Millennium Post

Centre to pump in Rs 1.5 lakh cr in 4 new steel plants

The Centre today said it will pump Rs 1,50,000 crore for building four new steel plants of 20-24 million tonnes combined capacity in collaboration with the governments in four states.

“We have decided to build four new steel plants and four dedicated mining companies to feed these plants in four states partnering the respective state governments. We aim for six million tonnes capacity for each plant,” Union Steel and Mines Minister Narendra Singh Tomar said here on the sidelines of an expansion review meeting.

Based on investment of Rs 6,000 crore for each million tonne of steel and associated cost for mining, the total investment will be in excess of Rs 1,50,000 crore.

“We have decided to form SPVs for each plant and mining companies. 
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