The Hindu Business Line : SAIL willing to go the extra mile in Jharkhand

In an effort to get the mining rights of Chiria iron ore mines, Steel Authority of India Ltd is even willing to go for community development activities in the State of Jharkhand.

Mr V.S. Jain, Chairman and Managing Director of SAIL, said that if Jharkhand Government wants, then the company would form a consultative group for chalking out such community activities.

Mining Rights

"Like a genuine corporate citizen of this country we would like to do whatever is needed for the development of Jharkhand. For that we are willing to hold discussions with the State Government," Mr Jain told reporters at an informal meeting on Wednesday.

According to him, SAIL is a national company and he felt confident of winning the Chiria mining rights. He further added that representatives of the Jharkhand Government and the Union Steel Ministry have already discussed this issue.

Mining Plans

In this context, he said, SAIL has already completed the necessary environmental studies and mining plans for Chiria. This preliminary job was initiated a year back and it is over.

When queried about that investment plans, he said, it would be anywhere between Rs 500-1,500 crore. "It would be invested as and when we need. We want to make it clear that there would not be any shortage of funds for the development of Chiria," he said.

Investment Plan

Mr Jain, who would be superannuating by the end of this month, repeated that the total investment plan of SAIL, as mentioned in its Corporate Plan 2011-12, is Rs 37,000 crore. It excludes mining expenses at Chiria and Rowghat.

Talking about the iron ore mines at Rowghat, Mr Jain said, it is essential for the future of Bhilai steel plant, which is the flagship unit of SAIL. "We had discussions with the Chhattisgarh Government and things are moving in the right direction," he said.

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