Evergrowing Iron and Finvest (EIFL), based in Tripura, plans to invest Rs 854 crore in Nellipaka village in Khammam district of Andhra Pradesh to set up an integrated steel plant through sponge iron with a capacity of 0.68 million tonnes per annum and an induction furnace. This will have a captive 130-MW power plant.
The waste heat gases generated from the process will be used for generation of power and the water for horticulture crops with sprinkler irrigation systems. The project would be ready by July 2009. It is proposed to have an equity of Rs 285 crore and term loans of Rs 569 crore for the project.
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| Posted : 7/26/2006 |
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