OREANDA-NEWS. March 17, 2011. Centre has planned to investment Rs. 10,000 crores to revive the steel unit at Jagdishpur in Uttar Pradesh and develop it into a modern and state-of-the-art plant. This was stated by Steel Minister Beni Prasad Verma on Saturday while reviewing the progress of the ongoing revival work of the steel plant, which had been entrusted to Rourkela Steel Plant (RSP), with the senior officials.

Mr. Verma said the ministry of Petroleum had been requested for extending support for natural gas resources. All efforts would be made to speed up the completion of Jagdishpur project. Steel Authority of India Limited (SAIL) had bought the private unit at Jagdishpur, the former plant of Malavika Steel in 2009.

For phase-two development of the unit, discussions with M/S Kobe Steel of Japan were held by a Joint Task Force. Options for setting up a 1,000 MW gas-based power plant and a steel plant based on gas-based DRI (Direct Reduced Iron-making) technology and using Electric Arc Furnace for steel making with value added products were being examined, RSP sources said.