Jai Balaji plans SEZ with 4.5 bln rupee investment
Thu Sep 27, 2007 3:06pm IST
KOLKATA (Reuters) - Steel maker Jai Balaji Industries Ltd plans to invest 4.5 billion rupees over three years to set up a special economic zone for steel processing units in West Bengal, a top company official said on Thursday.
"We have received in-principle approval from the Indian government to set up the SEZ," Chairman and Managing Director Aditya Jajodia told reporters following the company's shareholder meet.
The company has identified 300 acres of land near the eastern town of Durgapur for the export-oriented SEZ, he said.
"The investments will be funded through a mix of internal accruals, debt and issue of fresh equity," he said.
Jai Balaji has a steel-making capacity of 1.2 million tonnes with two plants in West Bengal and one each in Chhattisgarh and Jharkhand.
Jai Balaji plans SEZ with 4.5 bln rupee investment