Icore groups 5000 crore plan of a 1.8 MTPA steel plant and a cement crushing plan needs only 80 acres
Balasore, Balasore- Chandipur, Cement, Steel July 19th. 2010, 4:55pmFollowing is an excerpt from a report in Business Standard.
Kolkata-based Icore Group with interests in steel making, cement, gems and jewellery apparel and paints, would invest Rs 5,000 crore in Orissa setting up a 1.8 million tonne per annum (mtpa) steel plant and a cement crushing unit with a capacity of 5,000 tonnes per day.
The integrated steel cum cement complex would come up on 80 acres of land at Somanthpur in Balasore district. …
… Initially, Icore will start its steel plant operations with a capacity of 0.36 mtpa at a cost of Rs 1,000 crore and later scale up to 1.8 mtpa. While the cement crushing unit is set to commence operations from December 2010, the steel plant is expected to be operational by March next year.
In contrast Tata Steel is needing 3400 acres to set up a 6 MTPA steel plant in Kalinganagar. Perhaps I am missing something or something is amiss somewhere.
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July 19th, 2010 at 6:52 pm
Something is definitely amiss here. This has the making of a land grab scam. It’s a little strange that this group calls itself Icore E-services (especially when it doesn’t have anything to do with IT/BPO. At best it might have a call center operation).
August 4th, 2010 at 3:31 am
Can you please elaborate on the activities of steel plant does it cover mining, beneficiation, pellet plant , sponge iron plant steel melting shop etc