Vedanta, JSMDC to jointly establish steel plant in West Singhbhum District, Jharkhand
DSIJ Intelligence / 19 Jun 2017
The Vedanta group and Jharkhand State Mineral Development Corporation (JSMDC) are going to jointly establish a steel plant at Manoharpur, in West Singhbhum district. Vedanta Limited is a natural resource company engaged in the business of manufacturing copper and copper products, and aluminium and aluminium products.
The Vedanta group and Jharkhand State Mineral Development Corporation (JSMDC) are going to jointly establish a steel plant at Manoharpur, in West Singhbhum district. Vedanta Limited is a natural resource company engaged in the business of manufacturing copper and copper products, and aluminium and aluminium products.
"Around Rs 700 crore of the total MoU signed with the prospective investors have already been implemented on the ground and project proposals worth Rs 15,000 crore to 16,000 crore will be effective in July," said Jharkhand Chief Minister, Raghubar Das, while addressing a press conference.
The state government had signed Rs 3 lakh crore worth of long-term and mid-term MoUs with the investors during the Momentum Jharkhand investors meet in February.
Meanwhile, at Rs 242.50 per share at 1452 hours IST on BSE, Vedanta was trading higher by 2.5%. The stock hit a high of Rs 243.30 and a low of Rs 237.90 so far during the day.
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