SAIL is planning to set up a new coke oven plant and a 25 MW power plant at Mangalore in Karnataka.
SAIL will sign an agreement with KIOCL soon for setting up the coke oven plant with three lakh tonne per annum production capacity and a 25 MW power plant. The JV will invest Rs 500 crore for the project, including the investment in the power plant for captive use. SAIL will commence work on the project by 2015. The project has obtained environmental clearances from the Ministry of Environment and Forests (MoEF). The project will be funded by the JV in a 2:1 debt-equity ratio and both SAIL and KIOCL will have the off-take right in equal proportion. SAIL will use its share for captive purposes. KIOCL has plans to sell the finished product in the open market.
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