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Our Bureau

To invest Rs 85,000 crore in the project

MR SAJJAN JINDAL

New Delhi , Jan. 19

JSW Steel Ltd plans to expand its manufacturing capacity to 31 million tonnesover the next decade or so with an overall investment of Rs 85,000 crore.

``By 2020 we are looking at having a total capacity of 31 m.t.from our plants in Karnataka, West Bengal and another one that we are planning in Jharkhand,'' said Mr Sajjan Jindal, the company's Vice-Chairman and Managing Director.

Out of the 30 m.t., 10 m.t.would be produced from the proposed plant in Jharkhand, to be set up with an investment of Rs 35,000 crore. Currently, the company is looking for locations in the State, he said.

Bengal plant

Mr Jindal was speaking in the sidelines of an Assocham conference on Thursday. He said that another 10 m.t. would come from JSW's plant in Midnapur in West Bengal. "We had signed a Memorandum of Understanding earlier this month with the West Bengal Government to set up a steel plant in the State at an investment of Rs 35,000 crore," he said. The company would invest Rs 10,000 crore in the project in the first phase.

Apart from the two greenfield projects, the company would also expand the capacity at its plants in Tamil Nadu and Karnataka. "We will take the combined capacity at the two plants to 11 m.t.by 2010 from the existing capacity of 5 m.t.," Mr Jindal said .

The total investment in the two existing plants would be Rs 16,000 crore. The company will make the investments through a mix of debt, internal accruals and equity partnerships, Mr Jindal said.

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