Bhushan plans 5k-cr Odisha facility

NEW DELHI: Bhushan Steel, the country's third-largest producer of secondary steel, on Tuesday said it plans to invest about 5,000 crore for setting up 1.8 MT of new capacity in Odisha.

"The company proposes to set up pickling line coupled with tandom cold mill and continuous annealing line (PLTCM & CAL) facility at Orissa with the capacity of 1.8 MTPA at a total investment of approximately 5,000 crore," it said in a filing to BSE.

The company, with a total production capacity of 2 million tonnes per annum (MTPA), has three plants in Uttar Pradesh, Maharashtra and Odisha and produces secondary steel products like cold-rolled coil, galvanised coil, high tensile steel strapping, colour coated coils, among others.

Bhushan Steel had earlier said that the company will have a production capacity of 5.5 MTPA by September, 2012 and will make an investment of 12,000-14,000 crore for the expansion. Last October, it had signed a pact with Sumitomo Metals of Japan for setting up a new six million tonne steel plant in West Bengal.