SAIL Plans a second steel plant of Rs 15,000 crore in #Odisha.
State-owned SAIL plans to set up a shore-based steel plant with a capacity of three million tonnes per annum (mtpa) in Odisha with an estimated investment of Rs 15,000 crore.
The plant would be SAIL’s second in the state after its Rourkela unit, which has a hot metal capacity at 4.5 mtpa. “SAIL has written to the state government, evincing an interest of establishing three million steel plant in the coastal part of state. They have requested for about 3000 acres of land to put up the plant. The investment may be around Rs 15000 crore”, said an Odisha government source.
The location hasn’t been finalized, but SAIL believes a unit on the coast could optimize costs, streamline operations and ramp up its bottom line.
SAIL’s ramp up from 1 mtpa to 4.5 mtpa at Rourkela was achieved at an investment of Rs 12,000 crore. Prime Minister Narendra Modi had dedicated the expansion to the nation in 2015.
The company has announced plans to invest Rs 41,000 crore more on the Rourkela unit to scale up capacity to 10 mtpa. Read more here .