Sumitomo Corporation,
Japan
has expressed its interest to join Delhi-based Bhushan Steel for investing in
Bhushan's proposed steel plant in Bardhaman district of West Bengal. Currently,
the Bhushan Steel and Sumitomo are in talks for the proposed investment.
Sumitomo is a technical partner in Bhushan Steel's 4 million tonne Orissa
project.
The
project was originally estimated to cost around Rs.8,800 crore which also
included a 0.5 million tonne cold-rolled and galvanising plant for automobile
grade steel.
The
project requires 2,500 acre and if the capacity increases to 6 million tonne
then, it will require an additional 1,000 acre. Currently, the public hearing
for the project is going on and the rehabilitation package will be submitted
shortly, which includes land-for-land and housing for the land-losers.