Sterlite to establish a steel plant in Orissa
According to recent market news, metal giant Sterlite Iron and Steel Corp of Vedanta Group will establish a steel plant in Orissa with an investment of Rupees 125 billion ($2.7 billion).
As reported by SteelOrbis on Friday, Vedanta Group was expected to sign an agreement with the Orissa government regarding the project. As expected, the company on Friday signed a memorandum of understanding (MoU) with the Orissa government.
The planned steel plant will produce 5 million tons of steel products per annum, including
longs and
flats.