The Rs 2000-crore integrated titanium plant proposed to be set up near Chhatrapur in south Orissa's Ganjam district is expected to resume production in the next two years.
The plant is being set up by the Titanium Products Private Limited (TPPL), a joint venture (JV) company between Kolkata-based Saraf Agencies and the Russian government.
Earlier, the company had announced to start construction work in October 2010.
“The work on the titanium plant was delayed because of the elections”, said SL Modi, general manager, TPPL.
The construction of the plant would commence within a couple of months, he added.
The JV company had announced an investment of Rs 2,000 crore on the plant in two phases. The estimates also include the cost of establishing a Special Economic Zone (SEZ). While Rs 1,150 crore would be invested in the first phase, the second phase would cost another Rs 850 crore. The plant aimed to produce 1,08,000 tonnes of titanium slag, 68,000 tonnes of high purity pig iron, 40,000 tonnes of dioxide pigment and 10,000 tonnes of titanium sponge per annum. The company has already acquired around 300 acres of land as against the requirement of around 600 acres for the plant and the proposed SEZ.
While the integrated titanium project will be set up in 250 acres, around 350 acres were needed for the proposed SEZ. The land acquisition process is underway, said Modi.
“The company has got all the necessary clearances for the project including the environment clearance from the Union ministry of environment and forest (MoEF). The Centre has also approved the proposed SEZ project of the company”, he claimed.
TTPL has already invested around Rs 125 crore on the project.
The company will procure the raw material Ilmenite from the Orissa Sands Complex (OSCOM), a unit of Indian Rare Earths Limited (IREL), located near the proposed site of the integrated titanium project.
Source: Business Standard
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