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Jai Balaji buys sponge iron unit in Jharkhand
Friday, 02 November 2007, 19:30 IST
Kolkata: Jai Balaji Industries Ltd, the flagship company of Jai Balaji Group, has acquired 100 percent shareholding of Nilachal Iron and Power Limited (NIPL) in Jharkhand.
"The cost of acquisition was about 
720 million. We have also planned for some capacity expansion at the NIPL's Jharkhand facility. We would soon go for setting up a steel and power plants there," Jai Balaji Group chairman and managing director Aditya Jajodia told reporters here Thursday.
NIPL, a sponge iron factory located at Saraikela in Jharkhand, has a production capacity of 125,000 tonnes per annum. "We are planning to increase NIPL's capacity to 500,000 to one million tonnes per year," Jajodia said.
The company has formalised a memorandum of agreement (MoA) with the West Bengal government for setting up a five-million-tonne integrated steel plant, a three-million-tonne cement plant and a 1,215 MW captive power plant in Purulia district with a total investment of 160 billion.
"The land acquisition process is on for the Purulia project and so far we have been able to acquire about 100 acres, while the total requirement is 4,000."
Source: IANS
720 million. We have also planned for some capacity expansion at the NIPL's Jharkhand facility. We would soon go for setting up a steel and power plants there," Jai Balaji Group chairman and managing director Aditya Jajodia told reporters here Thursday.
NIPL, a sponge iron factory located at Saraikela in Jharkhand, has a production capacity of 125,000 tonnes per annum. "We are planning to increase NIPL's capacity to 500,000 to one million tonnes per year," Jajodia said.
The company has formalised a memorandum of agreement (MoA) with the West Bengal government for setting up a five-million-tonne integrated steel plant, a three-million-tonne cement plant and a 1,215 MW captive power plant in Purulia district with a total investment of 160 billion.
"The land acquisition process is on for the Purulia project and so far we have been able to acquire about 100 acres, while the total requirement is 4,000."
Source: IANS