Bhubaneswar, Oct. 10: Welspun Power and Steel, part of the Welspun group, will sign a memorandum of understanding with the Orissa government tomorrow to set up a 3-million-tonne greenfield integrated steel complex at a proposed investment of Rs 5503.80 crore. The Welspun group manufactures terry towels, bathrobes, speciality polyester yarns and SAW Pipes
The high-level clearance authority chaired by chief minister Naveen Patnaik this evening cleared the steel deal that would see the company churn out ductile and spiral iron pipes in addition to steel slabs from the Welspun plant once it is commissioned within four years of signing the MoU.
