Indian steel and pellet producer GIPL lines up new project investments

Wednesday, 27 January 2021 11:10:47 (GMT+3)   |   Kolkata
       

Indian steel and iron ore pellet producer Godavari Ispat and Power Limited (GIPL) has entered into an agreement with the state government of Chhattisgarh to invest an estimated $315 million in a series of steel upstream and downstream projects across the state, a state government official said on Wednesday, January 27.

The official said that GIPL projects in the state will include two 1 million mt per year capacity sponge iron making facilities, one each in the Raipur and Bastar areas, a 100,000 mt ferro-alloy plant at Raipur and a 250,000-500,000 mt per year capacity rolling mill also at Raipur.

The steel company will also be investing to construct a 1 million mt per year capacity coal gasifier plant at Raipur, along with 100 MW and 150 MW captive power plants at Raipur and Bastar respectively.

The investments will be spread out over four to five years from the date of approvals for all the projects, the official said.

The government of Chhattisgarh will facilitate the company’s land acquisition and establish linkages for supply of coal, water and electricity, and will also offer incentives from the state government’s existing schemes for investments in large projects, the official added.


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