Shyam Steel to invest Rs.3000 crore in two Bengal projects

Written by:
Subscribe to Oneindia News

Kolkata, Feb 13(UNI) Shyam Steel Ltd (SSL), the flagship company of Shyam Group of Industries, has decided to invest Rs. 3,000 crore in West Bengal over the next few years for setting up of two greenfield integrated steel plants.

Chairman and Managing Director of the company S S Beriwala today said the group had plans to set up a 1.1 million-tonne capacity steel plant at Raghunathpur in Purulia district and a 0.6 million-tonne plant at Kharagpur in West Midnapore district.

"An amount of Rs. 3,000 crore will be invested in phases. The Purulia plant will be set up on 1,200 acres of land and the Kharagpur plant on 650 acres," he said.

The proposed project at Raghunathpur will also have a one million-tonne-capacity cement plant and a 15 MW captive power plant.

The Kharagpur project will have similar facilities including a 75 MW captive power plant.

The group has targeted to commission the facility within 42 months of getting the land.

The company has already signed a Memorandum of Understanding with West Bengal Industrial Development Corporation (WBIDC) and West Bengal Mineral Development and Trading Corporation (WBMDTC) for the proposed ventures.

For the proposed integrated steel plants, the company has appointed M N Dustoor as the technical consultant for selection and implementation of the latest global technology, Mr.Beriwala said.


Please Wait while comments are loading...