New Delhi: Domestic conglomerate JSW Group will invest as much as Rs70,000 crore to Rs80,000 crore to expand its operations in steel, power, infrastructure, cement and aluminum sectors.
“We have planned to invest about Rs 70,000 to Rs 80,000 crore to expand our operations in steel, cement, infrastructure, power and aluminum sectors in view of the growing domestic needs in these areas,” JSW Group vice-chairman and managing director, Sajjan Jindal, told PTI.
He pointed out that of the total investment his Group would invest about Rs40,000 crore in steel sector, which includes ramping up production at its Vijaynagar Plant in Karnataka, while Rs25,000 crore would be utilized to enlarge its operations in power sector both for captive and greenfield power plants.
Jindal said another Rs10,000 crore would be invested for making forays into the aluminum sectors and about Rs5,000 crore for cement and infrastructure sectors.
As part of the Group’s efforts to establish itself as a major aluminum player, it was setting up an alumina refinery at a cost of Rs10,000 crore at Vishakhapatnam and the first phase of it would be commissioned by 2011, Jindal said.
He said JSW’s greenfield steel project in West Bengal would be operationalised by 2011-12 and the company would begin the construction work for it by October-November.
“We hope to commence construction work for our West Bengal project by October-November. The entire project which will cost about Rs30,000 crore will be operationlised in due course of time. Those who partake their land will be made stakeholders in our project, which is the first of its kind proposal in the country,” Jindal said.