CS Verma said we are ready to invest Rs 25,000 crore for the proposed plant, provided the land without any encroachment was allotted to SAIL.
Kiriburu (Jharkhand): State-run steel maker SAIL proposes to set up a five million tonne capacity plant in Sindri, provided government allots the land of the closed public sector unit Sindri Fertilizer Plant, SAIL Chairman C S Verma said here on Friday.
The government has assured allotment of 5000-5500 acres of land of the closed unit, but final decision is awaited, said Verma, who was on two-day maiden visit to the company owned mines in Kiriburu and other areas in Jharkhand and Odisha.
Verma said we are ready to invest Rs 25,000 crore for the proposed plant, provided the land without any encroachment was allotted to SAIL.
Referring to the ongoing expansion, he said the capacity of the Bokaro Steel Plant will be enhanced from 4.5 million tonnes to 5.77 million tonnes per annum following the completion of first phase of the expansion programme, which was expected in a year's time.
To a query about the prevailing scenario of the steel sector compared to other parts of the world, he said the growth rate of the steel sector in the country was better than global rate.
He said prevailing stability in the growth rate would continue for some time.
About the expansion of Chiria (Jharkhand) and Rowghat (Chattisgarh) iron-ore mines, he said SAIL has decided to engage Mineral Development Operator (MDO) to extract desirable result.
The process for appointment of MDO through global bidding was on and the response was overwhelming, he said.
About Chiria mines, he said SAIL has complied with all the documents required by the government for approval and expressed hope that the production in Chiria will begin in three years time.