Talks on for Major SAIL Unit at Jagdishpur

Lucknow, March 15 (IANS) The government is examining a proposal for an integrated steel unit and a 1,000 MW power plant at the Jagdishpur facility of the Steel Authority of India Ltd (SAIL) in collaboration with Japan's Kobe group.Stating this at Jagdishpur in Uttar Pradesh Monday, Minister of State for Steel Beni Prasad Verma said the proposal envisaged an investment of Rs.10,000 crore and that he will himself approach the oil ministry soon for the supply of natural gas.

"All possible efforts shall be made to expedite the completion of the project. I will personally take up the matter at the highest levels in the government," Verma said, as he examined the progress in the revival of the erstwhile Malvika Steel's unit.

State-run SAIL had acquired the ailing Jagdishpur unit of Malvika Steel in 2009. The first phase of a major revival plan -- which includes the setting up of a a 12,00-tonne and 13,000-tonne galvanised sheet corrugation unit -- is currently on.

Vrma said though India today is the fifth largest steel producer in the world, it has the potential to become the second largest producer on account of growing demand, rich resources, skilled manpower and vast experience of steel making.

SAIL on its own has decided to expand its crude steel production from 12.84 million tonnes to 21.40 million tonnes per annum by 2012-13.

The minister was also told that the state-run firm was carrying out several activities under its corporate social responsibility plan in and around Jagdishpur, including the upgrade of a school and health checks with free medicines at villages in the vicinity.


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Title: Talks on for Major SAIL Unit at Jagdishpur

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