Tata Steel plans Rs 1000 Cr investments in its Gopalpur SEZ

Bhubaneshwar: Tata Steel plans Rs 1000 Cr investments in its 3,200 acres of land lying idle at Gopalpur in Orissa.

The company is all set to launch two projects: a 50,000 tonne per annum ferroalloys plant and 40,000 tonne per annum bar mill there.

The two projects together are estimated to cost about 1000 crore.

The ferroalloys plant will cost about Rs 200 to 250 crore, the bar mill will be set up at an investment of Rs 750 to Rs 800 crore.

For the bar mill, the company intends to get the ingots from Jamshedpur by rail and road.

Similarly, the company will source raw material for the ferroalloys plant, which will be a backward integration project for the company's proposed six million tonne plant at Kalinganagar, from its chromite mines in Sukinda valley.

Both the units are expected to be commissioned in 30 months time.

The infrastructure for the industrial park will jointly be developed by Tata Steel and its associate company, Tata Realty and Infrastructure Ltd (TRIL).

The cost of infrastructure, which includes developing the land and providing road, rail, power, water supply facilities within the park and linking them to external sources, is estimated at about Rs 5000 crore.