Uttam Galva Steels to set up Steel,Power

Bhubaneswar, Oct 13 (UNI) Uttam Galva Steel Limited(UGSL), a leading secondary steel producers in the country, today signed an MoU with the Orissa government to set up a 3 MTPA Steel plant, a 210 MW power plant and a bi-cycle plant with a total investment of Rs 8987 crore.

MSGL Chairman-cum-Managing Director R K Miglani and Industry Secretary L N Gupta signed the MoU in presence of Chief Minister Naveen Patnaik, Industry Minister B B Harichandan and Steel and Mines Minister Padmanav Behera.

This would be 45th MoU the state government had signed with the private business houses to set up the steel plants in the state. On October 11 last the government had signed an MoU with the Welspun Power and Steel Limited (WPSL) to set up a 3 MTPA mega steel plant in With an investment of Rs 6103.80 crore.

Chief Minister Naveen Patnaik said the integrated steel plant would be commissioned within a period of four years and the bi-cycle plant to be set up in Gopalpur in Ganjam district would be completed in 18 months from the date of taking possession of the land.

He said so far 20 steel plants had already commenced commercial production with an investment of Rs 15,000 crore employing more than 10,000 people.

Steel and Mines Minister Padmanav Behera said the new generation bi-cycle plant would fulfil the requirement of the users of the present generation people.

He assured that the government would provide all necessary assistance and cooperation to ensure that the investors would operate in a constructive and helpful environment.

Official sources said with the MoU signed today, the government envisaged a total steel production of 59.25 million ton per anum with a financial assistance of Rs 1,43,987 crore.

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