Rs 10500cr fillip for Potka

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  • Published 7.05.10

Jamshedpur, May 6: Bhushan Power and Steel Limited will invest Rs 10,500 crore for its steel and power plant project in East Singhbhum’s Potka block.

The foundation stone for the company’s first greenfield project in Jharkhand, to include a three million tonne per annum (MTPA) steel plant and a 900MW capacity power plant, will be laid on May 16. Senior officials of the company including chairman-cum-managing director Sanjay Singhal will grace the function.

“We are happy that it’s the first mega sector company in Jharkhand that has been successful in acquiring more than 300 acres of land of its own. The first phase of the project will be set up on that land. The project will provide direct employment to over 10,000 people,” said Chandra Bhushan Sharma, deputy general manager and a spokesperson of the company.

Elaborating on the project, Sharma said it would be a modern steel plant that would adhere to all pollution control norms. “We have also initiated steps for providing industrial training to about 150 villagers in the age group of 18 to 45 years, who will find employment in the company,” said Sharma.

The company has set a target to start production by next year. By 2012, it aims to achieve full production target of 3 million tonne per annum.

According to Sharma, the company requires about 3,200 acres of land, of which 2,792 acres would be provided by the state government.

“We will soon enter into a land purchase agreement with the state government. There is no controversy about forest or tribal land. Moreover, there is no question of any displacement, as the land acquired by us is vacant and not inhabited by villagers,” revealed the senior official of the company.

The company also has elaborate plans to develop Potka, situated 25km away from the steel city, into a satellite town by building necessary infrastructure including roads, water and power lines. “We have the blueprint ready for Potka. Development of the area will become necessary as our project would provide numerous employment opportunities. We will have to create infrastructure for our employees,” said Sharma.

The company would source water from Domuhani (meeting point of river Subernarekha and Kharkai) and power from NTPC’s Ramchandrapur-grid at Gamharia in adjoining Seraikela-Kharsawan district.