First phase will be on stream by March 2012
Optimistic of commissioning first phase of its proposed 6 million tonnes per annum steel project by March 2012 in Orissa, Jindal Steel and Power (JSPL) on Saturday said it would set up the biggest steel plant in Orissa.
“The capacity of the proposed 6 million tonnes plant will be expanded to 20 million tonnes in the next 10 years,” JSPL Executive Vice-Chairman and Managing Director Naveen Jindal told reporters after meeting Chief Minister Naveen Patnaik.
Stating that the company had already invested Rs.10,000 crore and placed order for another Rs.5,000 crore for its Orissa steel project, Mr. Jindal said they would start operations with the commissioning of 2 million tonnes plant in the first phase. “We will be able to achieve the capacity of 6 million tonnes by 2013,” he said adding that the company was planning a big investment in the State.
While JSPL would invest Rs.45,000-50,000 crore in the steel sector, Rs.50,000 crore would be invested in its proposed coal-to-liquid (CTL) plant. “The company is likely to invest Rs.1.10 lakh crore in the next 10 years,” Mr. Jindal said.