Schedule a Call Back
JSW group to transform Salboni: Unveils ambitious industrial park plans
Industry News- Oct 04,23
This strategic move aims to attract both domestic and international investors, fostering diverse industrial enterprises on a sprawling 3,000-acre site.
JSW Group, a formidable industrial conglomerate valued at $23 billion and led by Sajjan Jindal, has unveiled plans to establish an industrial park in Salboni, West Bengal. This strategic move aims to attract both domestic and international investors, fostering diverse industrial enterprises on a sprawling 3,000-acre site. This decision represents a significant departure from JSW Group's previous intention of relinquishing this land to the state government.
Initially leased for an integrated steel and power plant in 2008 by the former left front government, the project never materialised. Despite this, JSW Group retained possession of the land, with a substantial portion remaining unused. Earlier this year, the conglomerate had expressed its desire to return the land, reserving a portion for the existing cement manufacturing unit and future expansions. However, policy changes introduced by the Bengal government, including the conversion of leasehold land to freehold, prompted JSW Group to reconsider the fate of the Salboni land.
Under the new policy, JSW Group is considering seeking the state's approval to convert the land's leasehold status to freehold by paying the necessary fees. Sajjan Jindal, the Chairman and Managing Director of JSW Group, commended the efforts of the Mamata Banerjee-led government in promoting industrial growth in Bengal. He stated that Bengal possesses the ideal conditions for industrial resurgence, and the land in Salboni will serve as a magnet for international investors and diverse industries.
The decision of JSW Group has received favourable reception from the state administration, which believes that the Jindal family is better positioned to develop an industrial park on the plot compared to the government. Several local industries in Bengal, including Captain Steel India Ltd, have expressed interest in securing parcels of the land designated for the industrial park. Captain Steel India Ltd, with former Indian cricket captain Sourav Ganguly as its brand ambassador and a minority shareholder, aims to establish a sponge iron-based plant for TMT bars production on a 600-acre section of the Salboni land.
JSW Bengal Steel, an unlisted subsidiary of JSW Steel, currently holds the lease for approximately 4,100 acres in Salboni since 2008. Despite challenges such as a bomb blast by Maoists during the groundbreaking ceremony in 2008 and subsequent difficulties in procuring essential resources, JSW Group remains determined to transform this plot into a thriving industrial hub, building on its extensive expertise and experience in the sector.
Source: telegraphindia.com
JSW Group
Salboni
Industrial Park
Bengal
Sajjan Jindal
Investment
International Investors
Policy Changes
Economic Development
Captain Steel India Ltd
TMT Bars Production
Related Stories
Electrical & Electronics
Texas Instruments Opens New Semiconductor R&D Centre in Bengaluru
Texas Instruments has inaugurated a 550,000-sq-ft R&D centre in Bengaluru, marking 40 years in India and reinforcing its commitment to semiconductor design and innovation.
Read moreAuto & Auto Components
Mahindra to Set Up Largest Auto and Tractor Manufacturing Facility in Maharashtra
Mahindra Group will invest Rs 150 billion to develop its largest integrated auto and tractor manufacturing facility in Nagpur, strengthening Maharashtra’s manufacturing ecosystem.
Read moreElectrical & Electronics
Mitsubishi Electric Invests Rs 2.1 Billion in Chennai Manufacturing Facility
New Chennai plant boosts local manufacturing, capacity and supplier ecosystem under Make in India.
Read moreRelated Products
Heavy Industrial Ovens
INDUSTRIAL SUPPLIES
Hansa Enterprises offers a wide range of heavy industrial ovens.
High Quality Industrial Ovens
INDUSTRIAL SUPPLIES
Hansa Enterprises offers a wide range of high quality industrial ovens. Read more
Hydro Extractor
INDUSTRIAL SUPPLIES
Guruson International offers a wide range of cone hydro extractor. Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
