Bhushan Steel Plans Steel Park In Orissa

Bhushan Steel is willing to establish a SME Steel Park around its steel project at Meramundali in Dhenkanal district.

BSL is setting up a 3 million tonne steel plant at an investment of Rs 5828 crore. It has already attained 0.5 million tonne per annum (mtpa) steel and 1 mtpa sponge iron capacity along with commissioning of a 110 Mw captive power plant (CPP).

BSL has signed a MoU with the Orissa government for a 3 mtpa steel plant and has sought 1000 acres of land for the proposed SME steel park, out of which 200 acres will be earmarked for the local downstream units.

The company will provide raw materials, infrastructure support, assured power supply and marketing support to the units proposed to come up in the steel park.

BSL has been asked to submit a combined application form and a detailed project report to to the Industrial Promotion and Investment Corporation of Orissa Ltd.

New Delhi based Bhushan Steel manufactures specialised steel for automobiles and white goods appliances in India. The steel maker posted a net income of Rs 4247.5 mn on revenures of Rs 49,470.1 mn.

Adhunik Metaliks, part of Adhunik group, has also proposed to set up a stainless steel downstream park at Kuarmunda in Sundergarh district. The park will come up over 300 acres of land and will house 100 stainless steel downstream units. The estimated investment of each unit is expected to be Rs 10 crore with the total projected investment pegged at Rs 1000 crore.

Similarly, to promote downstream utilization of aluminium, Vedanta Aluminium Limited (VAL) plans to set up an aluminium park at Jharsuguda.

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