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Our Bureau

Chennai, Nov. 5 The Toshiba-JSW combine (of OP Jindal group) joint venture to manufacture supercritical power boilers will commence civil works at Ennore near Chennai in the next six months, and will take another three years to complete.

However, the project will go on stream in phases, said Mr Sajjan Jindal, Vice-Chairman and Managing Director, JSW Steel Ltd.

According to him, the plant will come up at 100-acre plot at Ennore, involving an investment of Rs 2,000 crore. This will be met through equity and debt (debt will come entirely from Japan). The plant will initially manufacture power equipment for 3,000 MW. Over time, the capacity will be stepped up to 5,000 MW.

“We also have plans to scale up the facility to manufacture equipment for nuclear power plants too,” said Mr Jindal.

Jindal Steel currently has power plants in various States to generate 2,000 MW and has projects under construction to generate another 3,600 MW. These projects are under various stages of completion and will start generating power in the next few months, he said.

“Our plan is to reach 7,000 to 8,000 MW capacity in the next five years.” The company also has plans to set up 1000 MW facility in Tamil Nadu. However, “due to lack of clarity in the State power policy, we are holding back our investment plans here,” Mr Jindal said. The company expects more reforms in the State power sector.

More Stories on : Alliances & Joint Ventures | Power | Steel

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