September 25, 2012

Steel companies that have entered into Memorandum of Understanding (MoU) with the Odisha government have invested Rs. 80,516.17 crore till March 2012, achieving a combined steel output of 12.66 million ton

ne per annum. The investments have flown from the 30 steel makers. The operational steel units have also achieved captive power plant (CPP) capacity of 1,517 MW.

Among the 30 firms that have started production, Bhushan Power & Steel Ltd is the biggest investor with an investment of Rs. 22,290 crore. It has achieved steel capacity of 1.5 mtpa, sponge iron capacity of 1.5 mtpa and CPP of 116 MW at its plant at Lapanga near Sambalpur.

It is followed by Bhushan Steel Ltd that has grounded an investment of Rs. 14,000 crore, clocking steel production of 4.5 mtpa and sponge iron output of 2.38 mtpa at Meramandali in Dhenkanal district. Other major steel investors include Jindal Steel & Power Ltd (Rs. 11,392.98 crore), JSL Ltd (Rs. 6,367 crore), Essar Steel (Rs. 5,700 crore), Tata Steel (Rs. 3,970 crore) and Visa Steel (Rs. 2,808 crore).

Posco India and ArcelorMittal, the two big ticket investors proposing to build 12 million tonne per annum steel plant each, have invested Rs. 300.08 crore and Rs. 70.96 crore respectively.

The state government had signed MoUs with 50 players with a combined steelmaking capacity of 83.66 million tonnes with total investment proposal of Rs. 230,000 crore.