The Ispat group has reportedly planned to set up a greenfield steel plant in Orissa. The 5 million tpa plant would come up at Paradip. The group already has a ferro alloy plant at Balasore in the state.

The company has sought 240 million tonnes of iron ore reserve for the project, assuming a plant life of 30 years.

A team from Ispat is likely to soon visit Orissa to prepare the ground for signing of an MoU for the project.

Ispat, meanwhile, has conducted a feasibility study on the project. According to this study the project will come up in two phases. The first phase comprises of a capacity of 3.2 million tonne which will be extended to five million tonne in the second phase. The project intends to produce both long and flat products. Land requirements are estimated at 2,000 acres.

Ispat Group: The Ispat group currently has a total steel capacity of 14 million tpa. While Global Steel Holding Ltd, controlled by P K Mittal has 11 million tpa spread over Philippines, Nigeria, Libya and Bulgaria, the Dolvi (near Mumbai) plant of Ispat Industries in India has an installed capacity of 3 million tpa.  Ispat also owns mines in Africa and a coke oven plant in Bosnia.

Also See:

Ispat Industries expansion project: An update (15-Sep-04)