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Corporate Ispat Alloys to set up a 2-mn tonne steel plant

18 Nov 2010 Evaluate

Corporate Ispat Alloys Ltd (CIAL), a unit of Abhijeet group, is setting up a 2-million tonne steel plant. The pellet-based plant will come up at adjoining Kharswan and Rs10, 000 crore will be invested to set up the plant over 4,000 acres and would be commissioned by 2012. The construction work of the plant has already begun and 1,500 acres of land has been acquired and the process of acquisition of the remaining land was on.

The company would also set up a 3-million tonne per annum plant to produce pellets and would use lumps instead of fine iron-ore in this plant. A 60-MW captive power plant will also be set up. The company has already placed orders with Bharat Heavy Electrical Limited for four units and the first unit would be commissioned by 2012.

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