Online edition of India's National Newspaper
Sunday, Dec 23, 2007
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Online edition of India's National Newspaper Sunday, Dec 23, 2007 ePaper |
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Andhra Pradesh
The plant awaiting environmental clearance Jammalamadugu-Muddanur road to be expanded to a six-lane one 
Basking in glory: Chief Minister Y.S. Rajasekhara Reddy speaking at Bramhani Industries Limited steel plant site in Kadapa district on Saturday. AMBAVARAM (KADAPA): The first phase of the mega steel plant of Bramhani Industries Limited (BIL) with a capacity of 2.5 million tonnes, being established with an outlay of Rs. 4,500 crore, will be totally funded by the Obulapuram Mining Company (OMC), BIL Chairman and Managing Director Gali Janardhana Reddy said on Sunday. The initial promoters’ contribution of Rs. 450 crore is in account and Rs. 90 crore was spent on acquiring land and other infrastructure so far, Mr. Reddy told newsmen in the presence of Chief Minister Y.S. Rajasekhara Reddy at Ambavaram. BIL paid Rs. 19 crore to the Government for 10,670 acres of land allotted to the steel plant, spent 2.50 crore for pipelines being laid for drawing water, Rs. 2 crore for compound wall and Rs. 1.80 crore for finalised contracts, he said. The first phase would be completed in the next 12 months, he said. OMC would invest Rs. 1,050 crore in the steel plant by March 2008 and would invest Rs. 3,000 crore to be accrued from iron ore export earnings, he said. It neither approached banks nor any financial institutions so far, he said. BIL might go for a public issue for the second phase costing Rs. 10,000 crore or the promoters may raise own contributions two years later, he said. The steel plant secured pre-environment clearance and is awaiting a public hearing following which final environmental clearance would be obtained. Water is being drawn from Mylavaram reservoir now, and two tmc. was allocated from Gandikota reservoir. Mr. Reddy sought permission to draw water either from Gandikota or Mylavaram reservoirs for the first phase and Dr. Rajasekhara Reddy assured to consider the feasibility. Blast furnace order was placed with a Chinese company and machinery would be supplied in nine months while Mecon was awarded Rs. 90-crore contract for engineering works, BIL Joint Managing Director D.N. Rao said. Discussions were in progress with four international suppliers on coke ovens, he said. A sinter plant with 80 per cent sinter and 20 per cent lump ore would be set up. Orders would be placed in March for a steel workshop and roller mills. A 33 kv. sub-station is ready.
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