December 04, 2008

Orissa Sponge to set up 1 MTPA integrated steel plant

BL reported that Orissa Sponge Iron & Steel is planning to set up a 1 million tonnes per annum integrated steel plant and is believed to have received environmental clearance for its iron ore mines.

As per reports, Sponge Iron & Steel’s estimated reserves of iron ore is 130 million tonnes worth over INR 750 billion and that it has also obtained coal mining lease in Orissa worth over INR 100 billion.

Orissa government sources confirmed that Orissa Sponge obtained the crucial minister of environment & forest okay in September 2007 and the estimated ore reserves was in the range between 100 million tonnes and 150 million tonnes.