Kolkata-based Jai Balaji Industries is in talks with national and international entities for a technical tie-up or joint venture partnership. The company has clarified to the stock exchanges in response to reports that Severstal is in talks with Jai Balaji to buy stake that it was in expansion mode and in normal course of business. The company is setting up a five million tonne steel plant, three million tonne cement plant and 1,215MW of power, in Purulia. Jai Balaji has bagged coal linkages for the project.
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