"The viability of the project lies in complete integration including a captive power plant, (that shall use the waste gases from the sponge iron kilns to generate power), facilitating the production of steel at one of the lowest costs. A private railway siding and coal washery will further increase the inherent economic strength of the project".

The company is in an advanced stage of obtaining lease for iron ore mines in Orissa and Chhattisgarh and has been earmarked for Captive Coal Blocks as per the norms of Ministry of Coal. Once operational, the unit will become totally self sufficient and one of the least cost producers of steel.

The project is in an advanced stage of erection with the first phase already operational since Oct'O4. The balance facilities are slated to be commissioned in phases bySep'O5.


"With the entire loan having been sanctioned and commencement of sponge iron production before the issue hits the market we feel that the investors will be looking towards a company committed to delivering value for their investments"