SAIL's proposal to revive Sindri fertiliser plant gets CCEA approval
06 Aug 2011
The Cabinet Committee on Economic Affairs (CCEA) has approved Steel Authority of India's (SAIL) proposal for revival of the Sindri unit of Fertiliser Corporation of India (FCIL) at an investment of nearly Rs35,000crore.
SAIL has been selected on nomination basis for allocation of land to set up a steel plant, and a power plant along with a fertiliser plant at the site.
The proposed revival plan envisages setting up a 5.6-million tonne per annum (mtpa) greenfield steel making plant at an investment of Rs26,000 crore and a 1.15mtpa fertiliser plant with investment of Rs4,450crore,said the company statement.
In addition, the plan also envisages setting up a Rs4,000 crore power plant. The total land available with FCIL at Sindri is 6,652.6 acres, out of which about 5481.6 acres of land will be now available for the proposed project.
The project will be steered by a state-owned special purpose vehicle having three subsidiaries to look after the steel, fertiliser and power plants. The Sindri project will create direct / indirect employment potential for more than 5,000 people.
"We are planning to create a dedicated project office to monitor the different areas and expedite the Sindri project within 42 months of getting all clearances," said SAIL chairman C S Verma.
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