The Steel Authority of India Ltd (SAIL) is all set to come up with a processing unit in Kangra district, Himachal Pradesh. The initial investment in the plant is estimated at Rs 100 crore. The largest steel and iron producing company, with a turnover of Rs 40,000, has identified 200 canals in Kandrori village and the Himachal government is in the process to transfer the land.
Talking to FE general manager, industries department, Kangra, Satish Kumar Chaudhary said the plant would be first-of- its-kind in the northern region. ?A three-member team of SAIL had come to study the place and tried to find out the marketing prospects in the state. The company is expected to submit its feasibility report to the Himachal government shortly. Moreover, we are completing the formalities of transferring the land. It is anticipated that SAIL would start the construction within two to three months. If all goes as planned then the plant will see completion in 2009. This facility will generate direct employment for 200 persons. Semi-skilled, skilled and other technical and managerial posts will be filled through local government employment exchanges,? he added.
The plant would be based on SAIL?s patented technology known as thermo mechanical treatment (TMT).The new unit is expected to be eco-friendly. TMT steel rods, wire drawings and corrugated sheets would be manufactured in the plant.