Financial Daily from THE HINDU group of publications
Tuesday, Aug 12, 2003
Financial Daily from THE HINDU group of publications Tuesday, Aug 12, 2003 |
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Industry & Economy
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Infrastructure Chhattisgarh working overtime to complete pvt project proposals Badal Sanyal
Raipur (Chhattisgarh) , Aug. 11 EVEN as leaders of major political parties in Chhattisgarh are busy preparing their strategies to fight the Assembly election, scheduled for November, the State administration, pursuant to a directive sent by the State Chief Minister, Mr Ajit Jogi, is working overtime to ensure implementation of a series of firm investment proposals made by private investors for the State. The State investment promotion board has been able to finalise a total of 17 MoUs for greenfield projects worth about Rs 23,000 crore, to be executed by private promoters primarily in the sphere of mineral based industries and thermal power. According to State industrial development corporation sources, Jindal Organisation of New Delhi proposes to invest about Rs 1,900 crore for setting up six projects such as a rail and beam mill, a 100 MW captive power plant, a steel plant, a coal washery, an aluminium fabrication plant and an industrial estate. All the projects will be set up at Raigarh. The Monet Group of Industries has signed an MoU to set up four projects at an estimated cost of about Rs 1,160 crore, covering areas such steel products, a 118 MW captive power plant, sponge iron and coal washery, while Bhusan Ltd of New Delhi has expressed an interest in setting up a steel project-cum- 270 MW captive power plant-cum-coal washery project, entailing an investment of about Rs 2,285 crore. The largest investment proposal has come from Bharat Aluminium Company Ltd of Korba. The Sterlite group-owned company has plans to invest about Rs 6,000 crore on the expansion of its smelter at Korba and on setting up a 600 MW captive power plant. Chomku Agro and Spice Ltd of Bangalore has come forward with a Rs 50-crore investment proposal to set up a food park at Durg, while MSP Steel and Power Ltd of Kolkata is keen on setting up a sponge iron plant coupled with coal washery, a 20 MW captive power plant and MS ingot-making facilities at Raigarh. Sunil Sponge Iron Ltd of Kolkata has proposed to invest about Rs 105 crore for setting up sponge iron project with mini steel plant and a captive power plant, while the same type of project with higher capacity along with coal washery will be set up at Raigarh and Korba by another Kolkata-based company - Vija Industries Ltd, at an estimated cost of Rs 1,015 crore. Indo Agro Synji Ltd of Nagpur also proposes to set up sponge iron project entailing an investment of about Rs 413 crore. The project will have steel billet manufacturing facilities, an 8 MW captive power plant and a coal washery. Another Nagpur-based company - Sanvijay Rolling & Enginnering Ltd is not far behind to join the team of fresh investors in the State. This company has proposed to invest about Rs 465 crore also in sponge iron, steel billet, a 40 MW capacity captive power plant and coal washer. The project of similar nature has been proposed to be set up at Raigar by the Allahabad-based Anjani Steels Ltd, at an estimated cost of about Rs 185 crore.
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