Bhubaneswar, Jan 29 (UNI) The Orissa government today signed three Memoranda of Understandings(MoUs) for establishing three integrated steel plants at a total investment of Rs.1124.78 crore.
With the signing of the three MoUs,the state government had so far entered into agreements with 49 companies to produce nearly 75.66 MTPA steel per annum with an investment of Rs.1,98,150 crore,Chief Secretary Ajit Kumar Tripathy said.
The three new companies who signed the MoU were Pradhan Steel and Power Private Limited for .5 MTPA steel plant at Dhurusia in Cuttack district,Atha Mines Private Limited for a .25 MTPA steel plant at Tarkabeda in Dhankanal and Tecton Ispat Private Limited for .25 MTPA steel plant also at Tarakbeda.
All the three companies had proposed to set up captive power plant between 24 and 27 MW and the plants would be commissioned within three years.
Chief Secretary Ajit Kumar Tripathy said the companies would procure iron ore by themselves without any assistance from the state government.
There will be no obligation on the part of the state or the Orissa Mining Corporation to make arrangement for iron ore linkage for the proposed steel plant.
Sources said while the Pradhan Steel and Power Private Limited would invest nearly Rs.600 crore,the Atha Mines and Tecton Ispat Private Limited would spend Rs.291.60 and 227.13 crores respectively.
Orissa Steel and Mines Secretary U P Singh signed the MoU with the Director of the three companies in presence of, the chief secretary said.
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