The Hindu Business Line : Orissa, Jharkhand, Chhattisgarh proposals exceed steel capacity target

Steel ambitions of the three iron ore rich States of Orissa, Jharkhand and Chhattisgarh have moved far beyond the 100 million tonnes annual steel making capacity by 2019-20 envisaged in the National Steel Policy approved by the Cabinet in November 2005.

Going by the list of probable steel producing units lined up by these three States, India could well have around 180 million tonnes annual steel manufacturing capacity by 2014-15, including the existing 40 million tonnes, even if no other new capacity comes up in any other State.

The probable investors include existing public sector as well as private sector manufacturers, reputed foreign manufacturers, sponge iron makers going in for forward integration, as well as small rolling mills trying to get into backward integration among others. Orissa alone has signed 43 memoranda of understanding (MoUs) for setting up 58.04 million tonnes of steel making capacity closely followed by Chhattisgarh with 42 MoUs but much lesser capacity of 19.32 million tonnes of steel making capacity, officials said.

Jharkhand, interestingly, has signed the least number of MoUs but has managed to have the maximum commitments for capacity building.

The State signed 31 MoUs that proposes to set up 68.67 million tonnes of annual steel making facility in Jharkhand.

Investments

The total investments in the three States, according to the MoUs, add up to Rs 3,57,344 crore.

As far as the time frame is concerned, the MoUs suggest that all the capacities should be in place by 2014-15.

However, the National Steel Policy projects a little more than Rs 2,00,000-crore investment by 2019-20.

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