Times Of India reported that Steel Authority of India Limited is planning to invest more than INR 95,000 crore to expand and modernize various projects across the state.
SAIL chairman Mr C S Verma said that over the next decade, the steel major will expand its Bokaro Steel Plant, set up new steel, power and urea plants in Sindri and increase mining activities across Jharkhand. The proposed investment, which will not be matched of corporate group, is expected to generate employment opportunities and make the state an industrial hub. Mr Verma said that "The company is receiving full cooperation from the state and central government for its projects.”
SAIL is all set to enhance its production capacity to 45 metric tones by 2020 and Jharkhand is a key state as it has four coal blocks, several iron ore mines and 4.59 MT capacity BSL plant. SAIL has also demanded more coal blocks from the Government of India, which is still awaited. Of the four coal blocks in state, three are operational while fourth one in Tasra will get operational soon.
Mr Verma said the company has initiated the process to increase BSL's capacity to 17.5 million tonne, which will cost INR 60,000 crore. SAIL will also install a 5.6 million tonne capacity steel plant with an investment of INR 25,000 crore in Sindri. A 1000 MW power plant will also be built in the town along with a 1.1 million tonne urea plant there. He said that "All the three projects will cost an estimated INR 35,000 crore.” He added that increasing steel production by 1 MT requires an investment of INR 5000 crore and directly generates at least 1,000 jobs.
Mr Verma added that BSL is one of the few SAIL units that has adequate land and is ideal for expansion. Although there is a problem of displacement of locals, SAIL management is trying to solve the related issues. "SAIL has provided jobs to many displaced persons, but there are still new demands. We are assessing whether these new demands for job are of genuinely affected persons".
SAIL is also planning to build a medical college in the state. The 910-bedded Bokaro General Hospital will be converted to a medical college. The process is on and initial clearances have been received and it will take another two years before the institution to start operations.
Source - Indian Express
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