Orissa Sponge Iron was incorporated in 1979. The company is promoted and managed by Industrial Promotion and Investment Corporation of Orissa Ltd and Torsteel Research Foundation India. The main Business Profile of Orissa Sponge Iron is sponge iron and steel billet.The company`s plant is located in Palaspanga in Orissa.

Following is a recent news item about this company.

Orissa Sponge Iron and Steel firmed its plan for setting up of a one million ton integrated steel plant, reports Business Line.

The company is also believed to have received environmental clearance for its iron ore mines. The estimated reserves of iron ore mine is 130 million tons said to be worth on a conservative basis over Rs 750 billion.

The company has also obtained coal mining lease in the Orissa worth over Rs 100 billion.