Essar Steel is planning to set up a
second steel plant at Hazira in Gujarat with an investment of Rs.6,500 crore.
The project will be implemented through Essar Steel (Hazira) Ltd, a part of the
Essar group.
The unit will produce long as well as
flat products and will have an initial capacity of 3.9 million tpa which will be
further increased to 8.5 million tpa.
The company has acquired some initial
equipment from INI Steel, Korea and feasibility of the project has been done by
Mecon. Financial closure for the project is likely to be achieved soon.
The project is scheduled for
completion by 2008-09.
Also see:
Essar-Stemcor
to set up plate mill in Gujarat (24-May-06)