TISCO officially applies for mega steel project

TISCO officially applies for mega steel project

Indian steel producer Tata Iron and Steel Corp (TISCO) has reportedly filed a formal proposal to the Orissa government to establish a steel plant in Jajpur district of Orissa state. The steel plant, which will be built with an investment of Rupees 150 billion ($3.2 billion), will have an annual production capacity of 6 million tons. The proposal for the project has been submitted to Industrial Promotion & Investment Corp Ltd (IPICOL), which will take the proposal to Industrial Infrastructure Advisory Committee (IIAC). In line with the result of feasibility study, IIAC will recommend the Orissa state government to sign memorandum of understanding (MoU) with the company.