| Ferro chrome production from the 1.6 million tonne stainless steel plant proposed by Jindal Stainless Ltd (JSL) in Orissa, comprising ferro chrome is likely to start by the end of this year. This is part of the first phase of the steel project.
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| The company has already committed an investment of Rs 2,000 crore for the project of which Rs 600 crore has been spent on construction at the site and orders for equipment worth another Rs 1,300 crore has been placed with the suppliers. The total cost of the stainless steel project is pegged at Rs 6,628 crore.
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| The company today signed a MoU with the Orissa government for the project though it had started work on it since last year.
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| “The first two ferro chrome furnaces with installed capacities of 80,000 tonnes per annum are slated to go on stream in a couple of months,” Ratan Jindal, vice-chairman and managing director of the company told newsmen after signing of the MoU.
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| He said the rest of the first phase work will be completed in another two years. “Simultaneously, we will start work on the second phase which will get completed in 2009,” he added.
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| The project along with a 500 mw captive power plant is being set up in two phases. The first phase comprises establishment of 2.40 lakh tonne of ferro chrome, 40,000 tonne of silicomanganese, 50,000 tonnes of ferromanganese capacities, blast furnace to produce 5.25 lakh tonne of hot metal, 8 lakh tonne per annum stainless steel melting shop and eight lakh tonne slab caster machine apart from the facility to produce 25 mw power from blast furnace gas and waste and 125 mw captive power. The cost of this phase is estimated at Rs 1,612 crore.
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| The phase II comprises of setting up of additional 2.4 lakh tonne of ferro chrome, 80,000 tonne of silico manganese and 50,000 tonne of ferro manganese capacities, 5.25 lakh tonne of hot metal, 1 mt hot rolling mill, 8 lakh tonne per annum stainless steel melting shop and 8.25 lakh tonnes of cold rolled coils and 375 mw of captive power.
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| This phase is estimated to cost Rs 5,016 crore.
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| Jindal said, the Orissa facility will be the largest integrated stainless steel project in the country and south Asia. With the implementation of the project, JSL will move up to acquire a position among top ten stainless steel producers in the world, he added. |
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