KOLKATA: JaiBalaji Steel, which is investing Rs. 16,000 crore to set up a five million tonnes steel plant in West Bengal, is set to begin construction by this year on its project located in Raghunathpur in Purulia, which is one of the backward districts in the country.
Addressing a press conference here, Aditya Jajodia, Chairman and Managing Director, said that in the first phase Rs. 5,000 crore would be invested to set up a two million tonne steel plant along with a one million tonne cement unit and a 400 MW power plant.
About 600 acres had already been acquired for the project, which needs a total of 3,800 acres of which 1,500 acres would be required in the first phase.
West Bengal Industrial Development Agency had already identified 1,200 acres. Company sources said that construction work may begin by the end of this year when physical possession of land was expected.
Regarding financial tie-up for this project, Mr. Jajodia said that for the first phase, there would be an equity component of Rs. 1,500 crore and a debt component of Rs. 3,500 crore. Besides steel, the plant would have a capacity for making three million tonnes of cement while generating 1,215 MW of power.
Mr. Jajodia said that the company clocked a turnover of Rs. 1,347 crore in 2007-08 against Rs. 1,073 crore the year before. The net profit shot up by 91 % to touch Rs. 118.80 core riding on the back of increased efficiencies and improved steel prices.
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The real-estate market in Kolkata has been largely unaffected by the soaring inflation and the US economic crisis. While the sales and price figures in other metros and cities have shown signs of cooling down, the prices in Kolkata have increased by 7-10 per cent over the last four months. The city has managed to avoid a crisis because prices here had never reached ‘unrealistic’ proportions. Kolkata’s real-estate market is also relatively stabilized since the number of speculative investors here is much less compared with end-users.For more view- realtydigest.blogspot.com
Will you please give me the details of the Steel plants ? Because I have already business that type of business which will be helpful to utilize for expand myself.
West bengal real estate market is growing very fast.builders are showing interest in west bengal land.
Ruchi Realty Holdings Pvt Ltd, the recent venture of the $4 billion Ruchi Group, has launched premium residential condominiums, Active Acres, here. The group, which is known for soya and steel, has recently forayed into realty.