Orissa inks MoUs for three steel projects

The Orissa state government in India has inked memoranda of understanding (MoU) with private companies for the establishment of three steel plants with a total investment of approximately Rupees 6.65 billion ($150 million). The three companies are Crackers India (Alloys) Ltd, MGM Steels Ltd, and Surendra Mining Industries Private Ltd. While Crackers India (Alloys) Ltd will set up a plant at Gobardhanpur in Keonjhar district at a cost of Rupees 2.36 billion ($53 million), MGM Steels will build its plant at Nimidiha in Dhenkanal district with an investment of Rupees 2.08 billion ($47 million). Moreover, Surendra Mining Industries Private Ltd will build its plant at Barahamusa in Sundargarh district with an investment of Rupees 2.21 billion ($50 million). All three plants will have a capacity of 250,000 mts each. Minister for Steel and Mines Padmanava Behera said that with these MoUs, the number of proposed steel projects in the Orissa state increased to 45.