Jai Balaji Group to Invest $4 Billion in Steel, Cement and Power Facilities in Chhattisgarh

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Jai Balaji Group (Kolkata, West Bengal) has signed a memorandum of understanding with the government of Chhattisgarh that involves an investment of about 180 billion rupees ($4 billion).

The company plans to set up a 5 million-ton-per-year steel mill, 3 million-ton-per-year cement plant and a 1,250-megawatt thermal power plant. No further details about the project have been disclosed; however, Jai Balaji General Manager Shashi Chaurasiya said, "All aspects of the project have been finalized."

Jai Balaji Industries Limited (BOM:590064) is the flagship company of the Jai Balaji Group. It is a well-known secondary sector steel manufacturing company in eastern India. The group's manufacturing facilities are spread across four states: Durgapur, Liluah and Raniganj in West Bengal; Rourkela in Orissa; Kandra in Jharkhand; and Durg in Chhattisgarh. The value-added products manufactured at these sites are: 272,200 tons per year of alloy and mild steel ingots; 10,800 tons per year of alloy and mild steel heavy rounds; 80,500 tons per year of pig iron; 80,000 tons per year of thermo-mechanically treated steel reinforcement bar; 345,000 tons per year of sponge iron; and wire rods and carbon.

In 1995, the company commissioned the first sponge iron plant in West Bengal.

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