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Our Bureau

New Delhi , July 4

THE Essar group will sign a memorandum of understanding (MoU) with the Chhattisgarh Government on Tuesday for setting up a 3.2-million-tonne greenfield steel plant in the State, according to official sources.

The plant would be set up in Bastar district in two phases of 1.6 million tonne each and the detailed project proposal would be submitted to the State Government within three months of the signing of the MoU.

The total investment would be in excess of Rs 6,000 crore, sources said and added that the State Government has already assured the company that it will be treated on a priority basis. The company has also been assured of full quantity of iron ore from the Bastar region known for its high iron containing ore. The MoU will be signed by Essart Global Ltd.

This would be the fourth greenfield steel plant announced by the group during the past few months.

The company has already committed to set up greenfield plants in Orissa (Rs 10,271crore), Andhra Pradesh (Rs 15,000 crore), Jharkhand (Rs 10,000 crore).

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