BHUBANESWAR: The State Government on Thursday signed a Memorandum of Understanding with SSL Energy Limited for establishment of a three million tonne per annum capacity steel plant and a soya processing facility in the State. The MoU was signed by Secretary of Steel and Mines Department L.N.

Gupta and Director of the company Umesh Sahara at the State Secretariat. Chief Minister Naveen Patnaik, Industry Minister Biswabhushan Harichandan, Steel and Mines Minister Padmanabha Behera and Finance Minister Prafulla Chandra Ghadai were present.

SSL Energy Limited, which belongs to the Rs. 13,000 crore conglomerate Ruchi Group of Industries, will set up the steel mill in Angul district with a total investment of Rs. 8,600 crore.

Plant facilities

The steel plant will be commissioned in two phases. While a sum of Rs. 4330 crores will be invested in the first phase, the second phase will see an investment of Rs. 4270 crores.

The plant facility consists of blast furnace, steel smelting shop, slab caster sinter plant, hot strip mill and captive power plant, hot strip mill and captive power plant.

The company will require 200 acres of land and 120 million tonnes of iron ore for 25 years. The company will require 5000 cubic meter of water per hour to run the steel plant. The steel project will also have captive power plant of 200 MW capacity.

The steel plant will create direct employment for 3500 persons and indirect employment for 700. Under the soya processing project, the company will promote oil palm plantation, soya bean cultivation and establish manufacturing facilities for value added soya products.

With the support of the State Government, the company will set up oil palm nursery in Mayurbhanj district and promote palm cultivation over 1000 hactares within next two years.

The company will also organise training camps for farmers to educate them on modern techniques of palm cultivation.

The manufacturing facilities for various value added soya products will be set up near Paradip at a cost of Rs. 142 crore.

The products will include texturised vegetable protein, soya flour and soya extraction.

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