The Essar Group has sought land from
the Orissa government for its proposed 4 million tpa greenfield steel project in
the state. The group has approached Chief Minister, Mr Naveen Patnaik, to make
available land for the project so as to start implementation.
Essar had identified land near Paradip
for the project, but this land was earmarked for Posco's upcoming 12 million tpa
project. Later, the Orissa government offered land near Oswal Fertiliser's plant
following which Essar had selected a 2,000 acre plot. However, following IFFCO's
taking over of Oswal Fertiliser and the subsequent expansion plans announced,
this option was also closed.
The Essar Group has proposed to set up
a 4 million tpa steel project costing Rs.10,700 crore through its group company,
Hy-Grade Pellets. An MoU was signed with the Orissa state government in April
2005. The company does not intend to undertaken captive mining, preferring
instead to source its iron ore requirement through purchases from Orissa Mining
Corporation.
Also See:
Essar
Group plans greenfield plant in Orissa (23-Apr-06)
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