Following is an excerpt from a New Indian Express report on this.

Expanding its business portfolio, the Kolkata-based Saraf Group, promoters of Forum Mart shopping malls, has now decided to set up a titanium plant at Chhatrapur in Ganjam district.

The plant will be set up over 600 acres of land at an investment of Rs 2,000 crore in collaboration with the Russian Government. Production is likely to start by 2009- end.

This was disclosed by Saraf Group chairman S M Shroff while talking to mediapersons here on Tuesday. He said the project had received approval of the State Government and an MoU would be signed soon. The company had already acquired 200 acres.

He also announced setting up of two more shopping malls in the State, buoyed by the success of Forum Mart here. Both the malls – to come up in the Capital city and in Berhampur, would also have four-screen multiplex. The projects are likely to be completed by 2009-end.