Monday, 31 Jan 2011
PTI reported that Steel Authority of India Limited will put in over INR 5,000 crore in reviving its unit at Jagdishpur that may include a 1,000 MW gas based power plant to be set up in collaboration with Japan's Kobe Steel.
Besides, it is also examining the prospects of setting up a steel processing unit in Uttar Pradesh, steel minister Mr Beni Prasad Verma while reviewing the progress of the ongoing revival work at maharatna PSU's Jagdishpur unit. Said that “Steel Authority of India Ltd will be examining the feasibility of setting up a steel processing unit at Barabanki/Gonda.”
The first phase of the revival plan with an investment of INR 100 crore in the sick Malavika Steel that was taken over in 2009 by the maharatna PSU is already on, besides some other works, SAIL chairman Mr CS Verma, who accompanied the steel minister.
Talks are already on with Kobe Steels, Japan, for the second phase, which includes a 1000 MW gas based power plant with an investment of INR 2,500 crore and a steel plant based on direct re used iron making technology that would take some three years to complete.Mr Verma added that a joint task force team with the Japanese firm has been set up, which would submit its report in March 2011.(sourced:PTI)
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