Cabinet go-ahead for SAIL’s Sindri project

New Delhi : The cabinet committee on economic affairs has cleared a proposal by Steel Authority of India Ltd to set up a 5.6-million-tonne (mt) plant along with power and fertiliser facilities at Sindri on land owned by a defunct unit of the Fertiliser Corporation of India Ltd. The project cost is estimated at Rs 34,450 crore.

According to SAIL chairman C.S. Verma, the project will be completed “within 42 months from the date of getting all the clearances”.

SAIL wants to build the 5.6mt greenfield steel plant at an investment of Rs 26,000 crore and a 1.15-metric-tonne fertiliser unit at a cost of Rs 4,450 crore. Another Rs 4,000 crore will be invested in an electricity plant.