Setting up of Ferro Alloys Plants
The Minister of Steel, Shri Beni Prasad Verma has said that the price of steel in Maharashtra Elektrosmelt Ltd. (MEL), located at Chandrapur in Maharashtra, with a capacity of 100,000 tons of ferro alloys was a subsidiary of Steel Authority of India Limited (SAIL). It has now been merged with SAIL w.e.f. 1st April, 2010 and has been renamed as Chandrapur Ferro Alloy Plant (CFP). The merger of CFP with SAIL is expected to align the development of the unit and related investments in line with the ferro-alloy requirements of SAIL.
In a written reply in the Lok Sabha today he said, further, SAIL and MOIL have formed a Joint Venture Company namely – SAIL and MOIL, Ferro Alloys Pvt. Ltd., to set up a Ferro Alloys Plant for production of high carbon Ferro Manganese and Silico Manganese at village Nandini, Bhilai (Chhattisgarh).
The Minister said, International Coal Ventures Ltd. (ICVL), a Joint Venture company has been set up with the approval of the Government of India for the purpose of acquisition of coal companies, coal mines and coal assets/blocks in overseas territories. The promoters companies of ICVL are Steel Authority of India Limited (SAIL), Coal India Limited (CIL), Rashtriya Ispat Nigam Limited (RINL), NMDC Limited and NTPC Limited. The coal produced from these assets is intended for imports into India primarily for meeting the requirements of coal by the promoters companies of ICVL. Ministry of Power has recently intimated Ministry of Steel that NTPC Ltd. may be allowed to opt out of the Joint Venture. The proposal of Ministry of Power is presently under examination. In the event of NTPC Ltd. opting out of JV, restructuring of ICVL may be necessary.
Since, steel is a de-regulated sector and role of the Government is that of a facilitator only, the question of pending clearance of the steel related projects from the States does not arise, Shri Verma added.
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