TISCO considers setting up steel plant in Vizag
Indian steel producer Tata Iron and Steel Corp (TISCO) is reportedly planning to set up a steel plant in the port city Visakhapatnam in Andhra Pradesh with an investment of Rupees 60 billion ($1.36 billion).
TISCO officials have met state government officials to discuss the project. The state government is expected to provide infrastructure support to the company.
The planned steel plant will have an annual
production capacity of 3 million tons.
It is reported that the state government officials have welcomed the project.
As previously reported by SteelOrbis, TISCO is planning to acquire
iron ore mines in Chhattisgarh to supply raw material for the planned steel plant. Moreover, it is stated that the required
iron ore can be brought from Orissa.