T.V. Narendran in Calcutta on Saturday. Picture by Kishor Roy Chowdhury
Calcutta, March 8: Tata Steel today said its plans to set up an integrated steel plant at Kalinganagar and a ferro-alloy plant at Gopalpur in Odisha were on track.
The first phase of the Kalinganagar plant will go onstream by the end of the next financial year. The company has started construction work at Gopalpur and the plant should be operational within 18 months.
“Kalinganagar will go onstream by the end of the next financial year. We are sticking to that time. We have 40,000 people working onsite there right now,” Tata Steel managing director T.V. Narendran said on the sidelines of the annual regional meeting of industry body CII here today.
The steel major had signed a memorandum of understanding with the Odisha government in 2004 to set up a 6 -million-tonne per annum plant at the Kalinganagar Industrial Complex in Jajpur district.
The plant, to be set up in two phases of 3 million tonnes each, would cater to the requirements of automotive, packaging, tubing, appliances and rail industry.
On securing links for the project, Narendran said the company had some leases up for renewal, while the state government had assured fresh ones when the MoU was inked.
“It is a continuous engagement with the government. In Gopalpur we are setting up a ferro-alloy plant. We have put the equipment on the ground. There were some local issues that we are sorting out now. Construction has started and that will take another 18 months,” he added.
Narendran said the steel sector had witnessed some recovery in the last 2-3 months with demand from the automotive industry picking up.
According to him, some of Tata Steel’s key customers were facing tight liquidity conditions now. All eyes are now on the elections that could bring about economic stability with right policies by the new government.
CII office bearers
Viresh Oberoi, CEO and managing director, mjunction services, has been elected as the chairman of CII eastern region, while Rear Admiral (retired) A.K. Verma, chairman and managing director, GRSE Ltd, will be the deputy chairman.