Unfazed by the global recession, Jindal Steel and Power Ltd (JSPL) hopes to complete the first phase of its largest integrated project in Orissa's Angul by the end of 2010, using a novel eco-friendly coal gasification technology.
"Considerable progress has been achieved in the project and its first phase with three mtpa capacity, will be completed by end of 2010 at an estimated cost of Rs 15,000 crore," JSPL's executive director (projects) Rajesh K Jha told reporters here.
Thereafter it would take a year or so for the second phase of the project involving another three mtpa to go on steam, he said, adding that despite the economic meltdown worldwide, the Angul project has made much headway.
The company, which plans to invest Rs 40,000 crore in Orissa to produce 12.5 mtpa steel in phases and generate 2,500 mw power over the next decade, has already acquired more than 2,000 acres of land after initial delays, he said describing coal and iron-ore linkages as satisfactory.
Billed as India's largest integrated steel plant, it is proposed to be set up on 5,750 acres of land, 93 per cent of which is barren, Jha said, adding steel plant, power unit, township and other auxiliary work would come up in the area.
"The uniqueness of the project lies in the fact that JSPL will for the first time in the world use environment-friendly coal gasification technology in steel making," he said.
The technology has the capability of recovering almost 100 per cent of sulphur and preventing dust emission to the atmosphere, he said.
