Asia’s first and India’s largest integrated private sector steel company, Tata Steel today signed a Memorandum of Understanding (MoU) for setting up a 5 million tonnes per annum greenfield integrated steel plant in the Bastar region of Chhattisgarh. The MoU was signed by Mr. Shivraj Singh, Principal Secretary (Industries and Mineral Resources Department) on behalf of Government of Chhattisgarh and by Mr. B. Muthuraman, Managing Director, Tata Steel, in a ceremony at Raipur, in the presence of the Chief Minister of Chhattisgarh, Dr. Raman Singh and other important government dignitaries and top officials from Tata Steel.

According to the MoU, the integrated steel plant will have an ultimate capacity of 5 million tonnes per annum of steel with 2 million tonnes per annum in first phase. The first phase of the steel plant is likely to be setup within 48 months to 60 months from the date of obtaining all statutory clearances. The project also includes development of captive iron ore mines to meet the iron ore requirements of this plant. The project is expected to generate employment potential, both direct and indirect, for large number of people.

Mr. Muthuraman said, “Tata Steel will bring to this plant the same work philosophy, culture, efficiency and ethics, for which it is renowned world over for nearly 100 years. We will use environment friendly means for development of the captive iron ore mines, steel plant and its surroundings. Our immediate task is to obtain all statutory clearances, with the help of the State Government, as fast as possible and start the work. In order to complete the construction of such a large steel plant, we are immediately putting in place a project team at Raipur.”

Dr. T Mukherjee, Deputy Managing Director (Steel), Tata Steel said “The integrated steel plant will focus on the fast growing long products segment. A detailed feasibility would commence immediately to decide on the optimum technology and the exact location of the plant.”The investment by Tata Steel, combined with the able leadership and efficient administration of the State, would provide the right environment for the speedier industrial development of the State and will bring better quality of life to its people.

Established in 1907 by its Founder J N Tata, Tata Steel is the flagship of Tata Group, the most trusted corporate name in the country. It has one of the most modern steel making facilities and is also one of the lowest cost producers of steel in the world. It currently produces 5 million tonnes of steel per annum at its Jamshedpur plant and has recently invested in NatSteel Asia , which has a capacity of about 2 million tonnes per annum of finished steel. The steel company is focussed on the sophisticated automobile and the construction sector. A benchmark in corporate social responsibility and corporate governance, it believes in improving the quality of life of its employees and the communities it serves.