The project cost of JSW Bengal Steel project at Salboni in West Bengal is likely to come down owing to the recession which hit the steel industry hard.
The ongoing recession has brought down the cost of steel to $450 per tonne which was $1,200 per tonne a year ago. This eventually has resulted in the fall in the cost of supplies. Currently, the company is working out the details of the extent by which the cost of the project would come down.
Under the proposed project, the company was to put up a three million tonne steel plant in the Phase I and a 300 MW power plant in the later stage at an investment of Rs 10,000 crore.
Source : ProjectsToday
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