Daily Pioneer reports
The Steel Authority of India Ltd (SAIL) would be signing a joint venture (JV) agreement within a month with South Korean steel major Posco for using the FINEX technology in the Bokaro Steel Plant (BSP), said Director (Technical) of SAIL Sashi Sekhar Mohanty.
Mohanty, who is also holding the additional charge of the CEO of the BSP, has taken the lead for the new three-million-tonne steel unit of the BSP in Jharkhand based on the FINEX technology. The plant would use the technology developed by Posco for producing ‘green steel’ for the first time in India. It is an environment-friendly iron-making process that allows direct use of iron ore fines and non-coking coal as feedstock.
Mohanty, who was on a visit here, said that as the SAIL is targeting to produce 23 MT of hot metal by 2013-14, all its five integrated steel plants would be investing around Rs70,000 crore for their modernisation and expansion.
He said that with the huge expansion programme going on, the SAIL would endeavour to invest at least 1 per cent of its turnover in research and development (R&D) activities. Setting up of a Centre of Excellence, a High Impact Project and use of Breakthrough Technology are foremost in the SAIL’s strategy.
On the Odisha plans, Mohanty said the Rourkela Steel Plant (RSP) is also on expansion mode and Rs12,000 crore would be invested for its modernisation and expansion. Besides, the SAIL would be investing Rs2,000 crore in development of mines in the State. On the CSR front, the SAIL would be setting up mega schools on the KISS model and large ITIs in Sundargarh and Keonjhar districts, he said.
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