Vedanta MoU to set up steel plant in state

Ranchi: Global mining conglomerate Vedanta on Friday entered into a stage one memorandum of understanding (MoU) with Jharkhand government in its efforts to set up a 1 million ton per annum (MTPA) capacity steel plant in the state.
The United Kingdom headquartered company earned the rights for preparing feasibility reports through its group company Sesa Goa and will furnish a detailed project report (DPR) for the proposed plant, which is aimed at production of pig iron and ductile iron (DI) pipes.The approximate investment to the plant is pegged at Rs 15,000 crore, company representatives said.
The conglomerate in its primary communication with the state industries department has requisitioned for a maximum of 600 acres land. Company representatives said it has zeroed in on Kharsawan in Seraikela-Kharsawan district and Manoharpur in West Singbhum district. State industries director K Ravikumar said the plant will require around 300 acres to become operational. "The plant will provide employments to 2000 people directly and 5000 people indirectly," Ravikumar added.
According to well-placed officials, the mining major had shown its interests in making a footprint in the mineral rich Jharkhand in 2012 after it proposed to set up a 1.5 MTPA steel plant in West Singbhum and purchased mining rights for Dobil mines in the same district. Land acquisition problems and backward linkage constraints put the project in cold storage. "Things started rolling after at the Make in India investors' summit in Mumbai early this year after a meeting with CM Raghubar Das," a Vedanta senior official said.
CEO Sesa Goa Kishore Kumar said they were excited at the prospects of beginning operations in Jharkhand.