Bhubaneswar, Sept. 17: Adhunik Metaliks, the flagship company of the Rs 600-crore Calcutta-based Adhunik Group, has set up a 0.26-million integrated steel plant at Kanrmunda in Sundargarh district of Orissa. The plant was inaugurated recently by chief minister Naveen Patnaik.

According to the memorandum of understanding signed with the state government, Adhunik Metaliks will set up the steel plant of 0.26-million tonne billet capacity in 2007 under phase I of the project. The project comprises a coal washery, DRI plant, blast furnace, electric-arc furnace, ladle-repairing furnace, continuous casting facility and a captive power plant.

Talking about investments in the state, particularly in steel, Patnaik said so far three out of 37 MoUs signed have started production. For the steel sector, the state has got investments of Rs 3,050 crore till date. ?Analysts are talking about the poorest state emerging as the most prosperous one in the coming decade,? he said.

As the chief minister arrived at the Adhunik plant, he was greeted by protesting BJP workers of the district. The local BJP supporters are peeved over the exclusion of Sundargarh MP Juel Oram from the list of invitees. Oram was reportedly excluded from the list following his opposition to the Posco deal.