Foundation stone laid for Rs.120 bn Chhattisgarh steel plant

September 3rd, 2008 - 10:41 pm ICT by IANS  

Raipur, Sep 3 (IANS) Steel Minister Ram Vilas Paswan and Chhattisgarh Chief Minister Raman Singh Wednesday jointly laid the foundation stone for National Mineral Development Corp’s (NMDC) Rs.120-billion integrated steel plant in Nagarnar village of Bastar district.”It is a very ambitious project. NMDC will complete the construction work within 36 months so that production would begin by August 2011,” Paswan told a gathering at Nagarnar, some 300 km from Raipur.

The plant will have an annual capacity of three million tonnes.

NMDC formally signed a memorandum of understanding with the Chhattisgarh government to set up the project at the site.

NMDC has three massive iron ore mining sites in the Bailadila hills of Dantewada district, from where it excavates 20.5 million tonnes of its total annual production of 27 million tonnes.

Nagarnar is one of the four villages along with Kasturi, Amagura and Maganpur where NMDC has already acquired 403 hectares in 2001 from 303 farmers for setting up a steel plant based on Romelt technology that is used for extracting iron from iron-bearing wastes from mines.

Even the foundation stone for the project was laid in September 2003 by the then deputy prime minister, L.K. Advani, at Nagarnar. But the project was deadlocked as NMDC’s foreign collaborator, Moscow Institute for Steel and Alloys, refused to provide the Romelt technology.

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