Govt's Nod for Sesa Sterlite's Steel Plant.

The state government has given its nod to Goa-based Sesa Sterlite to set up a mega steel plant at Ballari.

The proposed integrated steel plant with an expected full production of 5 million tonne will entail an investment of about Rs. 32,000 crore. Sesa Sterlite, India's largest iron ore producer and maker of various non-ferrous metals, had in 2011 acquired an under construction medium sized steel plant- Bellary Steel and Alloys- with a captive power plant for Rs. 220 crore. The company also has a captive iron mine in Ballari.

'The State High Level Committee on clearing investment proposals had in its recent meeting chaired by Chief Minister Siddaramaiah approved the project,' sources in the Department of Industry and Commerce told Express. Sources further said that the committee has also cleared a proposal of Deepak Fertilizers, which has a major stake in Mangalore Chemicals and Fertilizers Limited, for capacity expansion with an investment of about Rs. 1,200 crore.

THE NEW INDIAN EXPRESS