Essar Steel Minnesota LLC has achieved financial closure for its $1-billion
(approx Rs 4,550 crore) project in US. The project comprises open-cast iron ore
mining, construction of pit-head beneficiation and a six-million tonne pellet
plant at the West end of the Mesabi iron range in north-east Minnesota.
The project is slated to be operational by August 2012. It will supply
feedstock to the Essar Group's four million tonne steel plant at Algoma, across
Lake Superior in Ontario, Canada.
Essar Steel Minnesota LLC has access to iron ore resources of over 1.4
billion tonne. In the future, Essar plans to add a 2.5 million tonne sponge-iron
making facility and slab caster at Minnesota.
Also See:
Essar
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