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JFE shows interest to participate in West Bengal project: JSW

JFE shows interest to participate in West Bengal project: JSW
PTI
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First Published: Fri, Oct 28 2011. 07 33 PM IST

Updated: Fri, Oct 28 2011. 07 33 PM IST
Mumbai: JSW Steel on Friday said Japanese major JFE Steel Corporation has evinced interest in joining hands with it in its proposed 10 million tonne per annum steel project in West Bengal.
Sajjan Jindal-led JSW Steel, in which JFE Steel is currently holding 14.78% stake, however, added that it would decide on taking JFE on board for its West Bengal project on a later date.
“Even though JFE has shown interest to participate in the project, the company will decide on the subject at appropriate time,” JSW Steel said in a notice to the BSE.
JSW Steel had signed a “strategic collaboration” agreement in November 2009 with JFE Steel which includes “project for building and operating an integrated steel production facility in West Bengal”, the company said.
JSW Steel had in 2007 signed a development agreement with West Bengal government to build a 10 million tonne per annum steel plant at Salboni in the West Medinipur district of the state in phases.
“The company will be taking up active implementation of West Bengal project on receipt of requisite approvals,” JSW Steel.
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First Published: Fri, Oct 28 2011. 07 33 PM IST