Essar to start construction of Orissa steel plant in Jan
The Essar group expects to start construction work of its six million tonne integrated steel plant in Orissa from January next year.
By PTI |
PARADIP (ORISSA): The Essar group expects to start construction work of its six million tonne integrated steel plant in Orissa from January next year.
Essar Steel Orissa Ltd (ESOL), a fully-owned subsidiary of Essar Steel, would invest about Rs 15,000 crore in the project, B K Panda, ESOL Director (Project), told reporters.
The project is targeted to be commissioned in 2011, Panda said on Wednesday.
At present, the company is directly negotiating with local landowners to purchase about 1,100 acres of land in Udayabata, Nuagarh and Bijayachandrapur villages, he said.
The total land requirement is about 2,000 acres including about 200 acres of government land, he said, adding so far 103 acres of government land had been handed over to the company.
He said Essar has selected an eco-friendly process for steel-making. Low grade iron ore would be used for making pellets which would be fed in blast furnaces.
Essar Steel Orissa Ltd (ESOL), a fully-owned subsidiary of Essar Steel, would invest about Rs 15,000 crore in the project, B K Panda, ESOL Director (Project), told reporters.
The project is targeted to be commissioned in 2011, Panda said on Wednesday.
At present, the company is directly negotiating with local landowners to purchase about 1,100 acres of land in Udayabata, Nuagarh and Bijayachandrapur villages, he said.
The total land requirement is about 2,000 acres including about 200 acres of government land, he said, adding so far 103 acres of government land had been handed over to the company.
He said Essar has selected an eco-friendly process for steel-making. Low grade iron ore would be used for making pellets which would be fed in blast furnaces.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
