SKS Power Ltd will invest approximately Rs 19,000 crore in Madhya Pradesh if the state government ensures raw material, land and water.
The company requires iron ore, manganese, dolomite and coal to give shape to its proposed investment plans.
It has recently signed a deal of Rs 8,430 crore with the state government for an integrated steel plant complex, which will be equipped with a captive power plant, and is eagerly awaiting government response.
The company has planned a steel plant of 3.1 million tonnes per annum with a 545 Mw captive power plant, a 150 Mw waste heat recovery boiler and a 450 Mw ferro plant.
“We are very serious about investing in Madhya Pradesh and want to start work as fast as possible but we want the state government also to be serious and aggressive. We will produce 1.1 million tonnes of steel through the blast furnace route and 2 million tonnes (per annum) through the sponge iron route. We will produce finished goods at the complex. This complex will also have a steel rolling mill of 2 million tonnes per annum; of this 1.5 million tonnes will be MS steel and 500,000 tonnes wire rod, TMT products and special steel,” Gupta said.