The 1.5 million mt electric arc furnace (EAF)-based steel mill proposed by the Indian government for the southern Indian state of Telengana could be implemented through a joint venture, a government official said on Tuesday, December 12.
The official said that the project announced by the Ministry of Steel will entail an investment of around $930 million. Government-owned consulting firm Mecon Limited will be mandated to prepare the feasibility report and detailed project reports based on which a final decision on implementing the project through the joint venture route will be taken, he said.
The government official pointed out that the Ministry of Steel as a policy principle has decided to construct scrap-based steel mills through the joint venture route, while a similar project planned for northern India has attracted a private investor and the Telengana project too is expected to follow the same model.