JSW Steel, Jharkhand sign MoU for Rs 35,000cr unit

Sajjan Jindal, vice-chairman and managing director of JSW Steel and P P Sharma, chief secretary of Jharkhand, signed an MoU today in the presence of Jharkhand chief minister Arjun Munda.

According to a release issued by JSW Steel to the BSE today, the MoU will enable the company to go ahead with its Rs 35,000 crore investment plan to set up a green steel plant in the state. "The plant, to be located near Hesalong in Saraikela Kharsawan, will produce 10 million tonne of steel per annum," the release added.

The plant is expected to commence operations by 2010, and will capitalise on the vast resources available in the state, the release added.