Tata Steel signs MoU for plant in Chhattisgarh

Tata Steel has signed a Memorandum of Understanding (MoU) with the Chhattisgarh government for setting up a five million tonne greenfield integrated steel plant in the state.

According to the MoU, the integrated steel plant would have a capacity of five million tonne per annum of steel with two million tonne per annum in first phase. The first phase of the steel plant is likely to be setup within 48 to 60 months from the date of obtaining all statutory clearances.

The steel plant would focus on the fast growing long products steel segment. Along with meeting the iron ore requirements of this plant, the project is expected to generate employment potential - both direct and indirect.

The MoU was signed by Shivraj Singh, principal secretary (industries and mineral resources department) on behalf of government of Chhattisgarh and by B Muthuraman, managing director, Tata Steel, in Raipur, in the presence of chief minister of Chhattisgarh, Raman Singh.

In a statement issued by the company, Muthuraman said, "The immediate task was to obtain all statutory clearances, with the help of the state Government, as fast as possible and start the work. In order to complete the construction of such a large steel plant, we are immediately putting in place a project team at Raipur."

T Mukherjee, deputy managing director (steel), said "The integrated plant will focus on the fast growing long products segment. A detailed feasibility would commence immediately to decide on the optimum technology of the plant."