Taiwanese steel maker, China Steel Corporation has signed a memorandum of understanding with the Gujarat government for setting up a electric steel plant at Dahej GIDC. In the first phase company will investment US $ 178 million (approx. Rs 1,000 crore).
It has acquired 50 hectares of land at Dahej GIDC and will start work for the project by June 2012. The production of electric steel is likely to start from 2014 onwards. The Dahej project will have an initial capacity of 200,000 tonnes of electric steel per annum.
