Jindal Steel & Power entered into an MoU with the Jharkhand government on 5 July 2005 for its proposed 5 million tpa integrated steel plant in the state. The investment in the project would be around Rs.11,500 crore.

The proposed plant will provide direct employment to around 5,000 people and would create about 30,000 ancillary jobs. The group has identified 3,000 acres of land for the project (excluding township) at Chandil near Kandra in West Singhbhum district of Jharkhand. The plant will come up within five years of taking possession of land.

In another development, JSPL, which signed an MoU with the Orissa government in October 2004 for a 2 million tpa steel plant has decided to enhance the capacity of the plant to 6 million tpa. A revised proposal was submitted to the Orissa government on 4 July 2005, it is learnt.

The investment in the project now stands enhanced to Rs.15,000 crore from the earlier Rs.4,000 crore. The plant will come up in two phases -- Phase I of 3 million tpa will come up by 2008, and Phase II by 2011.

Also See:

JSPL plans steel plant in Jharkhand (23-Jun-05)

JSPL signs MoU for steel plant in Orissa (20-Oct-04)