Tata Steel planned to invest Rs 300 billion to build the Orissa plant for its subsidiary Tata Sponge Iron.
According to the company's annual report, the above plan had two phases. After the construction of the blast furnace in the first phase, the target output was 600,000 to 800,000 tons. After fully putting into operation in the second phase, the total production capacity was estimated to be 1.3 to 1.5 million tons.
At present, the company was applying for approval with the local Ministry of the Environment and was expected to be completed and put into production in 4 years. Initially, the Orissa plant would acquire iron ore through its parent company Tata Steel and participate in iron ore and coal bidding.
In addition, Tata Sponge Iron planned to increase its production capacity by 30,000 to 35,000 tons while its current production capacity was 390,000 tons.
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