Bhushan Steel has informally sought an additional 1,000 acre from the West Bengal Industrial Development Corporation (WBIDC) as it is holding discussions with Sumitomo Metal Industries (SMI) for participation in its steel project in West Bengal.
Initially, the company had sought 2,500 acre for the two million tpa project. But to take it to six million tpa, the company will need another 1,000 acre. If talks with SMI materialise, then the project will be scaled up to six million tpa and the investment is likely to be Rs 15,000 crore which is higher than the earlier investment plan of Rs 8,000 crore.
Bhushan Steel had signed an MoU with the state government in May 2007 for a two million tpa steel plant with a captive power plant of 1,000 MW and a 0.5 million tpa cold rolled and galvanising plant for automobile grade steel. The steel plant with power project is slated to come up in Bardhaman district and cold rolling and galvanising plant in the North 24 Parganas.
Source : ProjectsToday
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