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August 22, 2008


Orissa to sign 3 more MoUs for steel plants

FE reported that the Orissa government's Single Window, headed by Mr Ajit Kumar Tripathy chief secretary of Orissa has cleared 6 projects with a total investment of INR 55,750 crores.

The MoU for the project will be signed once it gets the nod from the high powered committee headed by Mr Naveen Patnaik chief minister of Orissa.

The list includes 3 projects in the steel sector

1. Navyug Steel is going to sign a MoU with the Orissa government to set up a 12 million tonne port based steel plant at an investment of INR 34,000 crore near Astarang in Puri.

2. Bhushan Steel is proposing to expand capacity of its Meramundali plant in Dhenkanal to 9 million tonne from the present 3.1 million tonne, with an investment of INR 20,804 crore

3. Reliable Sponge will invest INR 227.13 crore to set up facilities for 0.25 million tonne per annum steel production and the generation of 24 MW power.