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Steel major JSW Steel Ltd, part of the Rs 40,000-crore O.P. Jindal Group, will invest Rs 3,000 crore in its projects in India during 2009-10. The investment will span across JSW's plant at Vijaynagar, Karnataka, and upcoming projects in Jharkhand and West Bengal, Sajjan Jindal, Vice-Chairman and Managing Director, told newspersons recently. Of this, Rs 1,500 crore will come from the company's internal accruals and the rest from debt, preferably domestic firms rather than from overseas lenders.
JSW Steel's annual production capacity has reached 6.8 million tpa following the commissioning of an extended production line of 3 million tpa at Vijaynagar in Karnataka early this year, making the company the largest single-location unit in India.
The company is also going to build two greenfield projects of 10 million tpa each, in West Bengal and Jharkhand, with total investment estimated at Rs 70,000 crore.
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