Tata Steel to invest Rs 42,000 cr on its second plant
The Free Press Journal — February 22, 2006

Tata Steel has identified land in Jharkhand for setting up its ambitious 12 million tonne per annum greefield plant, reports PTI. Tata Steel Managing Director B Muthuraman told reporters here today that suitable land for the proposed plant has been identified in Jharkhand following a survey undertaken by the company. He said the land has been identified in Seraikela area of the state, which is close to the iron ore belt and roughly 30-35 km from Jamshedpur, where the company's existing steel plant was based.

He said once the survey was over, the company would apply to the Jharkhand government for land. Tata Steel had earlier been given five options by the Jharkhand government for setting up its new plant 'and 'after an extensive survey the company identified the land in Seraikela. Muthuraman said the construction of the plant would take nearly four years and the work was progressing as per schedule. The company had sought roughly 6000 acres for setting up its second plant in Jharkhand while an additional 4000 acres would be required for a township and waste disposal.

Tata Steel had earlier announced that it would make an investment of Rs 42,000 crores for its second plant with a capacity of 12 mtpa. The company was also in the process of expanding its Jamshedpur plant from 5 mtpa to 10 mtpa at an investment of more than 10,000 crore.