Kolkata-based Jai Balaji Industries is
likely to enter into a memorandum of understanding (MoU) for setting up a five
million tpa steel plant, three million tpa cement plant and 1,215 MW power plant
in Purulia district of West Bengal, at a cost of Rs.16,000 crore.
The MoU will be signed by
end-September 2007 and the company will require around 4,000 acre of land for
the projects. By October 2007, the company is likely to acquire around 2,000
acres and commence work on the first phase.
The first phase entails, two million
tonnes of steel capacity, one million tonne cement and 400 MW of power.
Construction of the first phase is scheduled for completion within 30-36 months.