Indian JSW Steel said that it expected to achieve financial closure and start the construction of the integrated steel plant valued INR35, 000 crore at Salboni in West Bengal after the October festival season.

JSW Steel planned to build a steel plant capable of producing 3 million tons of steel with 300 MW captive powers.

Mr. Biswadip Gupta, the CEO and Joint MD of JSW Bengal Steel said that the state land and land reforms department has held a hearing to resolve the complication regarding to the possession of land acquired by the company directly.

Also, Mr. Gupta added that the company has acquired all regulatory approvals and captive mines. In addition, the negotiations with financial institutions are over.

He said the company will immediately achieve the financial closure once the land issue is settled down.