BL reported that Shyam Steel Industries Limited has urged the West Bengal Industrial Development Corporation to expedite the process of handing over the land identified for its steel making and other projects proposed at Raghunathpur in Purulia district.

A spokesman for Shyam Steel said that "If we fail to start land development work before the monsoon, the work on the project will be delayed by several months.”

He said that “We made an initial payment of INR 11 crore nearly 8 months ago for about 600 acres we will need in the first phase. We want to take possession of the land immediately and launch the project within two years."

In the first phase, the company proposes to invest an estimated INR 1,200 crore to set up several facilities for beneficiation, pelletization, DRI, billet making and power generation (35 MW). Ultimately, the company will put up a 1.1 million tonnes per annum capacity finished steel plant to be complete with the power plant of 250 MW and for this another 600 acres will be needed.

Meanwhile, the state government has signed MoU with the company ensuring coal supply for the power plant, either by way of providing coal blocks or coal linkages.

(Sourced from www.thehindubusinessline.com)