At least ten more steel plants to be established in Orissa

At least ten more steel plants to be established in Orissa

According to recent news in the market, the Orissa government has recently signed memoranda of understanding for at least ten steel plants to be established in the state. The companies which signed memorandum of understanding (MoU) with the Orissa government include Orissa Cement Indian Ltd (OCL), Monnet Ispat, Acrion Ispat and Power, Maheshwari Group, Sree Metaliks and Agrim Steel Industries. The companies that signed MoUs are expected to invest Rupees 26.5 billion ($590 million) in the state to produce 2.7 million tons of steel products per annum. With these recent MoUs, the number of MoUs the Orissa government has signed so far has reached to 25.