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Talks between SAIL/POSCO on for JV in Bokaro: SAIL Chairman
Steel Authority of India Limited Chairman C S Verma on Monday expressed optimism over a positive outcome in the ongoing talks with steel-making company POSCO for a joint venture in Jharkhand.
“Talks regarding setting up a joint venture in Bokaro between the SAIL and the POSCO are going on. We expect a result in this regard very soon,” Verma told reporters here.
He said the public sector has set a target of 45 million tonne steel production by 2020.
To expand its activity, Verma said the public sector was trying to get iron ore from Afghanistan, Australia and other countries.
Stating that the SAIL has embarked upon extension and modernisation of Bokaro Steel Plant (BSP) and would spend between `50,000 crore and talks between SAIL/POSCO on for JV in Bokaro: SAIL Chairman 60,000 crore, Verma said BSP’s steel production capacity would be increased to 17.5 MT from the current 4.5 MT.
SAIL, he said, has also evinced interest to take up more work in other areas of the Indian Railways after successfully providing materials for laying rail tracks up to five lakh km.
Replying to a query on coal blocks, the chairman said three out of the four coal blocs allotted to SAIL were operational while efforts were on to make the fourth one functional. “Besides the four, we are trying for more coal blocks,” he said.
Three new plants in Sindri
Steel Authority of India (SAIL) would spend `35,000 crore to set up plants for steel, power and urea at Sindri in Dhanbad.
“The money will be invested in setting up of steel plant, power plant and urea plant in Sindri,” SAIL chairman, C S Verma, told reporters here.
SAIL has 6,000 acres of land at Sindri where these plants would come up in the next four years, he said.
A total of `25,000 crore would be spent on a new 5.6 million tonne steel plant while a 1000 MW power plant and 1.1 tonne urea plant would each cost `5,000 crore, Verma said.
Over 20,000 people would benefit from direct and indirect employment after the plants come up, he said.
Steel Authority of India Limited Chairman C S Verma on Monday expressed optimism over a positive outcome in the ongoing talks with steel-making company POSCO for a joint venture in Jharkhand.
“Talks regarding setting up a joint venture in Bokaro between the SAIL and the POSCO are going on. We expect a result in this regard very soon,” Verma told reporters here.
He said the public sector has set a target of 45 million tonne steel production by 2020.
To expand its activity, Verma said the public sector was trying to get iron ore from Afghanistan, Australia and other countries.
Stating that the SAIL has embarked upon extension and modernisation of Bokaro Steel Plant (BSP) and would spend between `50,000 crore and talks between SAIL/POSCO on for JV in Bokaro: SAIL Chairman 60,000 crore, Verma said BSP’s steel production capacity would be increased to 17.5 MT from the current 4.5 MT.
SAIL, he said, has also evinced interest to take up more work in other areas of the Indian Railways after successfully providing materials for laying rail tracks up to five lakh km.
Replying to a query on coal blocks, the chairman said three out of the four coal blocs allotted to SAIL were operational while efforts were on to make the fourth one functional. “Besides the four, we are trying for more coal blocks,” he said.
Three new plants in Sindri
Steel Authority of India (SAIL) would spend `35,000 crore to set up plants for steel, power and urea at Sindri in Dhanbad.
“The money will be invested in setting up of steel plant, power plant and urea plant in Sindri,” SAIL chairman, C S Verma, told reporters here.
SAIL has 6,000 acres of land at Sindri where these plants would come up in the next four years, he said.
A total of `25,000 crore would be spent on a new 5.6 million tonne steel plant while a 1000 MW power plant and 1.1 tonne urea plant would each cost `5,000 crore, Verma said.
Over 20,000 people would benefit from direct and indirect employment after the plants come up, he said.
