Search on
News Title
News Details
POSCO plans steel processing plant at Raigad in Maharashtra
3175 times viewed.
Saturday, 07 Feb 2009

BL reported that the POSCO is planning a USD 1 billion Greenfield steel processing facility in Maharashtra. However, the company is tight lipped about the nature of projects it wants to undertake and has also asked the state government officials to maintain secrecy over the project. The investment in the state is independent of its other mega investments in Orissa.

A state government official said that the land acquisition process for the project is under way at the Maharashtra Industrial Development Corporation run Vile Bhagad industrial estate in Raigad district.

State Government sources said that the company is bullish about investment in the state in spite of the global meltdown and the sharp decline in global steel prices. The company is planning to carry out the investment in phases. It is keen to use Dighi port, which is close to Vile Bhagad, for transporting raw materials and finished goods. It plans to import steel using the port and process it at the Vile Bhagad and sell it to local customers.

POSCO officials are keen to have good infrastructure from Dighi to Vile Bhagad, to be able to handle trucks with higher carrying capacity. Consequently, the Public Works Department has been instructed to include the existing three roads from Dighi under its road upgradation plan.

A source said that the project could also take advantage of the port from the fact that Dighi is already a part of the Delhi to Mumbai Industrial Corridor and plans are afoot to link the port with the Konkan Railway.

Sources said that 0ne of the roadblocks for the project in Vile Bhagad area is the presence of drinking water projects and water bodies in the vicinity of the project. The issue of effluent management from the plant is being considered by the company.

Sources added that senior officials of the Maharashtra Government and MIDC in their discussions with POSCO officials have raised the issue of effluent management. Solutions are being deliberated to resolve the issue.

(Sourced from Business Line)

This is alternative content.

More Indian News