To meet rising steel demand in Odisha, BPSL proposed to enhance production capacity of crude steel from 3 MTPA to 5.5 MTPA and captive power from 560 MW to 710 MW at its premises in Sambalpur district after it received environment clearance for an Rs 9,090-crore crude steel expansion project.
The approval of the expansion project, which is estimated to cost Rs 9,090 crore, is subject to certain proviso. The company has already acquired 284 hectares required for the expansion.
The necessary iron ore for the plant would be procured from local e-auctions and the raw material will be transported through rail or road.
Hirakud Dam from the present allocation will fulfill the water requirement for the project. Most of the power requirement for the project is met from captive generation which is estimated at 236 MW.
Odisha has deposits of the other raw materials required for the production of steel in substantial quantities. The state also has a ready market for the steel products.
As per dept of Steel & Mines, Odisha, the steel industries have a proposed 75 million ton installed capacity which would include an investment of 198,149 crore.
The state exchequer is also estimated to earn 250 crores per annum from the steel industries in Odisha.
~ Sourced
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