Welspun to set up 3MTPA steel plant in Orissa

Bhubaneswar, Oct 11 (UNI) With an investment of Rs 6103.80 crore, the Welspun Power and Steel Limited (WPSL) will set up a 3 MTPA mega steel plant in Orissa.

An MoU in this regard was signed between WPSL Vice-Chairman-cum- Mananging Director B K Goenka and state Industry Commissioner L N Gupta in presence of Chief Minister Naveen Patnaik, Industry Minister B B Harichandan and Mines Minister Padmanav Behera.

The high level clearance authority, chaired by the Chief Minister yesterday, cleared the project to facilitate the signing of the MoU today.

Mr Goenka also signed another MoU for setting up an Integrated Textile Park(ITP) at Choudwar on behalf of the Welspun Anjar SEZ Limited at an investment of nearly Rs 300 crore.

While the steel plant would produce ductile iron and steel pipe, the ITP would set up a modern spinning mill of 25,000 spindle capacity and a big weaving mill at Choudwar.

Mr Goenka said the ITP, the first of its kind in Orissa, would support the ancillary and downstream industries of the spinning and weaving mill.

The Chief Minister, who welcomed the projects, said the two projects would generate 4000 employments and make Choudwar once again the textile hub of the state.

He said the state government would soon announce a Textile policy to attract investment in the sector, which would not only generate employment opportunities for thousands of people but also provide a boost to the cotton growers in the state.

UNI DP SJC/SRC1651