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Tata Steel to rope in foreign investors for Odisha SEZ

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Reported by Chinmaya Dehury
Bhubaneswar, Sep 9:

Tata steel is in the process of roping in investors from abroad to develop the special economic zone (SEZ) and industrial park it is setting up at Gopalpur in south Odisha.

TV Narendran, MD, Tata Steel (Photo Courtesy: thehindubusinessline.com)
TV Narendran, MD, Tata Steel
(Photo Courtesy: thehindubusinessline.com)

“We are working on getting investors and also developing a master plan for the two projects. We are also building a ferro-alloy plant at Gopalpur,” said T V Narendran, managing director (India and South East Asia) of Tata steel after meeting chief minister Naveen Patnaik here today.

Notably, Singapore-based consultancy firm, Jurong, is currently preparing a master plan to develop the 3,000 acre land in possession of the company at Gopalpur as a multi-product hub. Jurong will submit the final plan in November.

After the master plan is ready, the company has planned to hold roadshows in South Asian countries like Singapore, Malaysia, Indonesia, Thailand and Japan in an effort to find investors for the project.

As the promoter of the project, Tata Steel SEZ will provide developed land with infrastructure support in the form of electricity, drainage, sewerage and water supply facilities to the investors intending to set up their units in the Park.

Narendran also informed that Tata Steel aims to begin production from its Kalinga Nagar steel plant, being set up with an investment of Rs 400 billion, by March 201.

He said that the Phase I of the facility having 3 million tonnes capacity will begin operations by March 2015.