Essar Group to invest Rs 15k cr for Orissa projects

State Bureau
Posted: 2008-05-23 00:25:14+05:30 IST
Updated: May 23, 2008 at 0153 hrs IST

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Bhubaneswar, May 22: Essar Group has acquired 1300 acres, out of the required 1960 acres, for its six million tonne steel project in Orissa. The company had signed a memorandum of understanding in 2005 with the state government to set up a steel plant along with facilities for making iron ore pellet and transporting iron ore slurry through dedicated pipeline from Barbil sector to Paradip.

Essar is investing Rs 15000 crore for the project. It includes an iron ore pellet plant and setting up of a slurry pipeline. The company's Bailadilla-Vizag slurry pipleline also passes through the state.

Essar Group chairman SK Ruia expressed his satisfaction over the progress of the project.

Ruia, along with his chief operating officer for steel business, J Mehera, met the chief minister and discussed about the prospect of the group's various projects in the state. Mehera told reporters the work for the slurry pipeline and the pellet project has been started. Equipment supply orders for the projects have been placed with South Korean and German companies.

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Essar Group to invest Rs 15k cr for Orissa projects

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