Kalinganagar project to be started soon

Jamshedpur: Domestic steel giant Tata Steel said would begin the construction work for its six million ton plant at Kalinganagar in Orissa in the next three months and said it would achieve a turnover of about Rs 1,00,000 crore this fiscal.

'We expect the Tata Steel Group, including Corus, to achieve a turnover of about Rs 1,00,000 crore this fiscal, 'Tata Steel Managing Director B Muthuraman said here.

He also announced that his company will be able to commission new, colour-coated galvanised steel production plant worth about Rs 250 crore at its Special Economic Zone at Gopalpur in Orissa in the next two years.

Muthuraman said Tata Steel will begin construction work for the Kalinganagar plant within the next three months, which is likely to be completed by 2010 at an investment of Rs 2,000 crore.

He pointed out that Tata Steel will invest about Rs 20,000 crore for brownfield expansion in its Jamshedpur plant.

'We are slated to achieve a production capacity of 10 million tons by December 2010,' he said.