Small BusinessOrissa govt approves proposals for two more steel plants
The Orissa government today approved proposals for setting up two medium scale steel plants, including one by Tata Sponge Iron Limited, official sources said.
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The proposals from Tata Sponge Iron Limited and Amtek Metal and Mining to set up a 1.5 mtpa and 2 mtpa steel plants respectively, received the nod from the High Level Clearance Authority (HLCA) chaired by Chief Minister Naveen Patnaik.
This would be Tata"s second steel project in the state after its proposed 6 mtpa steel plant at Kalinga Nagar in Jajpur district, an official said.
While the domestic steel major is setting up a greenfield steel mill at Kalinga Nagar at an investment of Rs 16,000 crore, its new proposal is to expand its existing sponge iron unit at Joda in Keonjhar district.
The company proposed to set up a new 1.5 mtpa steel plant, one 1.6 mtpa pelletisation plant besides enhancing its existing 0.39 mtpa capacity of sponge iron plant to 0.45 mtpa and expanding its 26 MW captive power plant to 78 MW, said Industries Secretary S Garg.
"Together, the company proposes to invest Rs 3,100 crore on expansion plans, which includes one 1.5 mtpa integrated steel plant," Gagr said, adding it would require an additional 880 acre in Joda area.