JSW gets state nod to set up industrial park on Salboni land

JSW gets state nod to set up industrial park on Salboni land - CaptainTMT Best TMT in India

Editor: Debasish Konar & Udit Prasanna Mukherji | TNN

Kolkata: The Bengal government on Thursday gave the go-ahead to Sajjan Jindal-led JSW group to set up an industrial park at Salboni in West Midnapore.

The state cabinet, which met at the residence of CM Mamata Banerjee, cleared the proposal to convert 4,102 acres of leasehold land at Salboni belonging to JSW Bengal Steel to freehold. As per the cabinet clearance, 1,990 acres of this land has been earmarked for industrial park, 1,981 acres for industrial use and the remaining 132 acres for commercial use.

Jindal will have to pay a fee of Rs 245 crore for the conversion to freehold. The 4,100-acre land has been with JSW Bengal Steel since 2008.

Sources close to the development said Jindal had evinced interest in setting up an industrial park at Salboni rather than returning the land. "He wanted to do something for the state. We agreed because he promised to set up a top-class industrial park and bring in domestic and international investors," a senior official said.

JSW, one of the leading steel manufacturers in Asia, may appoint a global consultant for the development of the park, the sources said..

Earlier, there was buzz that former cricket captain Sourav Ganguly, who had announced in Spain that he would invest Rs 3,500 crore to set up a steel plant in Bengal, would do so at Salboni. Captain TMT, which has Sourav as its brand ambassador, was said to have sought 600 acres at Salboni for the plant.

Spread over 28 square kilometre, the Salboni land is protected by a 34-kilometre-long wall and is free of encroachments.