BS reported that Japanese conglomerate Orix Corporation has made USD 20 million investment in an INR 600 crore steel project being set up by Kolkata based Maithan group.

Maithan is setting up a 400,000 tonne capacity plant under Maithan Ispat in Duburi and will produce structural steel heavy sections. Structural steel has been commissioned and heavy sections will be commissioned in March 2008.

Maithan group has interests in ferro alloys, refractories, sponge iron and steel. In 2004, it had signed a MoU with the Orissa government, under which captive ore has been assured.