The Hindu Business Line : Orissa signs MoUs with 5 cos for setting up steel plants

THE Orissa Government on Thursday signed five memoranda of understanding (MoUs) with different private companies for setting up steel plants in the State, taking the total number of MoUs for steel plants to 42.

The MoUs were signed at the State Secretariat in the presence of the Chief Minister, Mr Naveen Patnaik, the Industries Minister, Mr Biswabhushan Harichandan, and the Steel and Mines Minister, Mr Padmanabha Behera.

The Principal Secretary in the Department of Steel and Mines, Mr Bhaskar Chatterjee, and the company officials signed the MoUs.

As per the MoUs, Rungta Mines Ltd will set up two steel plants of one million tonnes per annum (MTPA) capacity each at Kamando in Sundargarh district and Jharband in Dhenkanal district at a cost of Rs 2,275crore; Stats Steel India (P) Ltd will set a plant of .50 MTPA capacity at Tangi in Cuttack district at a cost of Rs 855 crore; Jai Balaji Jyoti Steels Ltd will set up a plant of .33 MTPA capacity at Tainsarin Sundargarh district at a cost of Rs 321 crore; Brand Alloys Ltd will set up a plant of .27 MTPA capacity at Palaspanga in Keonjhar district with an investment of Rs 307 crore; and Eastern Steels & Power Ltd will set up a plant of .25 MTPA capacity at Lahandabud in Jharsuguda district at a cost of Rs 254 crore.

Besides, an MoU signed earlier with Jindal Steel & Power Ltd was revised for increasing the capacity of the proposed steel plant from 2MTPA to 6 MTPA capacity. The company will set up a beneficiation plant at Deojhar in Keonjhar district and steel plant at Angul with a total investment of Rs 13,135 crore.

An agreement was also signed with Bhushan Steel & Strips Ltd for the setting up of a 3 MTPA capacity steel plant at Meramundali in Dhenkanal district. The MoU for the project was signed earlier. Speaking on the occasion, the Chief Minister hoped that the projects would be executed expeditiously. He said that the State Government would provide all necessary assistance and cooperation to ensure that the investors operate in a constructive and helpful climate.

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