Financial Daily from THE HINDU group of publications
Friday, Sep 09, 2005
Financial Daily from THE HINDU group of publications Friday, Sep 09, 2005 |
|
|
|
|
|
Corporate
-
New Projects Tata Steel, Jharkhand sign pacts for greenfield plant — Line up Rs 53,000-cr investments Our Bureau
Mumbai , Sept. 8 THE Government of Jharkhand and Tata Steel Ltd on Thursday signed memorandums of understanding (MoUs) for setting up the new greenfield steel plant and adding to Jamshedpur capacity. The companyis setting up a 12-million-tonne (mt) per annum greenfield integrated steel plant in the Manoharpur and Chandil areas of Jharkhand with an investment of Rs 42,000 crore. Tata Steel plans to expand capacity at its Jamshedpur plant from 5 mt per annum to 10 mt per annum with an investment of Rs 11,000 crore. The MoUs were signed in the presence of Mr Arjun Munda, Chief Minister of Jharkhand, Mr Ratan Tata, Chairman, Tata Sons Ltd, Cabinet Ministers, Government dignitaries and senior officials of Tata Steel at a function held at the Chief Minister's residence in Ranchi. The MoUs were signed by Mr P.P. Sharma, Chief Secretary, Government of Jharkhand, and by Mr B. Muthuraman, Managing Director, Tata Steel. According to the MoU, the steel plant will be set up in two phases. The first phase of 6 mt per annum is likely to be set up within 36-54 months from the date of obtaining all statutory clearances. The project will also include the development of iron ore mines and other raw material sources including coal and logistic linkages for this plant. The expansion of the Jamshedpur works is also expected to be undertaken in two phases. The first phase of expansion to 7 mt is underway. "The order for the key equipment has been placed and the current phase of the expansion is expected to be completed by 2008,'' an official release said. The Jharkhand Government and Tata Steel have also entered into two MoUs to cooperate in the field of human resource development "with an objective to impart technical and job oriented training to the youth of the State through upgradation of polytechnics and industrial training institutes through expert assistance''.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|