Government-owned Steel Authority of India Ltd (SAIL) expressed commitment to invest Rs 4,000 crore in the next three years in Jharkhand to augment capacity of its Gua mines besides installing a 4-million-tonne (MT) pallet plant.
The intent for investment was made at the launch of the Jharkhand Industrial and Investment Promotion Policy (JIIPP) 2021 by Chief Minister Hemant Soren. SAIL is one of the largest steel-making companies in the country under the Ministry of Steel producing iron and steel at five integrated plants and three special steel plants, including Bokaro Steel Plant (BSL) in Jharkhand.
According to SAIL Executive Director (Operations) Ajay Arora, there is plan to spend Rs 4,000 crore in Jharkhand over the next three years and investment will be made to expand the capacity of SAIL’s captive Gua mines to 10 million tonnes from the existing 4 MT. The investment will also aim at improving ore quality from existing 61 per cent to 63 per cent. Arora further said investing both in beneficiation of expanding capacity along with a four-million-tonne pallet plant will be a great boost for the steel sector.
The pallet plant is a Greenfield (fresh) project in Gua mines. During the summit Chief Minister Hemant Soren said, “You all are part of the Jharkhand family and we want our family to grow further, so that the rich identity of the state comes in front of the country and the world.”