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December 04, 2008


Orissa assures land for Monnet Ispat’s revised plans

BS reported that Orissa government has assured Monnet Ispat & Energy Limited to give 620 acres of government land at its proposed integrated steel plant and a 1,000 MW power plant in Angul district in the next 2 months. As per report, Industrial Infrastructure Development Corporation will soon initiate measures to hand over the government land to Monnet Ispat.

Monnet Ispat requires 1,750 acres. Out of this, 1000 acres is earmarked for the power plant, 220 acres for the steel plant, 295 acres for coal mining and the remaining 235 acres for stacking overburden. Though it has taken possession of 520 acres, the balance 1,230 acres is yet to be acquired. Around 620 acres is government land while the remaining 610 acres is private.

Mr Sandeep Jajodia executive vice CMD of Monnet Ispat & Energy Limited said that it hoped to complete the land acquisition for its proposed INR 4,200 crore 1,000 MW power plant at Chhendipada and the steel mill at Nisha in next 3 to 6 months. He added that "We are already in possession of 520 acres of land and have started the pre construction work both for the steel and power plants. We hope to complete the acquisition of the remaining land in the next 3 to 6 months."

Mr Jajodia said that the site development and boundary wall construction is going on at full speed and the actual construction would start in January 2008. He added that however, it will stick to the original schedule of commissioning the independent power plant by 2010 and steel plant at Nisha in 15 to 18 months.

Monnet originally planned to set up a 0.25 million tonne per annum steel plant at Mangalpur in Dhenkanal. Though it started land acquisition with assistance from IDCO, it could not succeed in acquiring the requisite land. So it requested the state government to change the site of the steel plant to Nisha in the Angul district. The Orissa government accepted the company’s request in May 2006. Since then, it has acquired about 100 acres for its proposed steel plant out of the total requirement of 220 acres. The remaining land will be acquired in the next 4 to 5 months.