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Govt to invest Rs. 1.5 lakh cr to set up steel plants in 4 states

Industry Metallurgical industries

According to Narendra Singh Tomar, Union steel minister, the union government is planning to set up steel plants in Odisha, Jharkhand, Chhattisgarh and Karnataka of 5-6 million tonne each. Each project will be implemented via separate SPVs and the respective state government will partner in the projects. According to the plan, central PSUs including SAIL will invest in Chhattisgarh, Rashtriya Ispat Nigam in Odisha and NMDC in Jharkhand and Karnataka along with the respective state governments. Estimated cost is Rs. 6,000 crore for each million tonne of steel and associated cost for mining, the total investment will be in excess of Rs 1,50,000 crore.

Extracted from FE, Feb 01,’15

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