Four new steel plants to be established in Orissa
According to reports from the industry, Orissa government signed memorandums of understanding with four private companies namely, Arati Steel Ltd, Neepaz Metalics Private Ltd, Deo Mines & Minerals Private Ltd and Scaw Industries Private Ltd, to establish integrated steel plants in the state. Orissa is the home of
India's largest state owned steel plants.
The four plants are expected to cost about Rupees 24 billion (approx. $529 million) and will have 2.4 billion tons of
production capacity.
Arati Steel is going to form a steel plant at Ghantikhal in Cuttack district, at a cost of Rupees 9 billion. The company is scheduled to complete its plant in five years.
Furthermore, Neepaz Metalics will establish its plant at Chadrihariharpur Sundergarh district. The company is planning to complete the first phase in three years and the second phase in seven years. The company will invest Rupees 4 billion for the plant.
Acaw Industries will invest Rupees 8.24 billion for its plant located at Gundichara village in Dhenkanal district.
Deo Mines & Minerals will form a steel plant at Kuanrmunda in Sundergarh district, at a cost of Rupees 3.16 billion.