Bhusan Steel to build a steel plant in Orissa

Bhusan Steel to build a steel plant in Orissa

Indian steel producer Bhusan Steel and Strips Ltd (BSSL) is reportedly planning to build a steel plant in Orissa under the scope of BSSL's plan to be a self-sufficient steel plant. The annual production capacity of the plant is stated to be 1.5 million tons. As reported by SteelOrbis last week, Orissa government signed memoranda of understanding with four steel plants for the establishment of steel plants in the state. Orissa has huge iron ore deposits and BSSL wants to take advantage of these iron ore deposits to have stable source of raw material. BSSL plans to invest Rupees 3 billion ($647 million) in the plant, which will produce 1.2 million tons of hot rolled coils and 300'000 tons of long products per annum. BSSL officials expect Orissa government to approve the project soon.