State-run firm Steel Authority of India (SAIL) has been in discussion with POSCO for setting up a FINEX technology based steel plant of around 3 Million Tonne Per Annum (mn tpa) hot metal capacity as a joint venture at Bokaro Steel Plant.
It is estimated that around 1,100 acre land would be required for this purpose. SAIL and POSCO have not reached an agreement on the share holding structure of the joint venture.
This information was given by the Union Minister of Steel Beni Prasad Verma in the Lok Sabha. Meanwhile, the minister also informed that there is no unutilised land available in Bokaro Steel Plant as the land has been used for the existing plant, township and related facilities including its on-going expansion project and further required for future expansion, the minister added.
The land handed over to Bokaro Steel Plant by the then state government includes 26,908.565 acre acquired land, 3,600.215 acre Gair Mazarua land and 778.46 acre forest land.
The available land of Bokaro Steel Plant has been used for the existing plant, township and related facilities including its on-going expansion project and is further required for future expansion. The production capacity of the plant is 4.36 mn tpa.
Verma also said that land for setting up of Bokaro Steel Plant was acquired by the then Government of Bihar through various notification under Part II of the Land Acquisition Act.
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