Tuesday, 14 March 2017

Welspun Steel gets green nod for Rs 14,690-cr Gujarat project >> Ripples Financial Advisory

Welspun Steel Ltd (WSL) has received environmental clearance for setting up an integrated steel plant with production capacity of 3 million tons per annum in Gujarat at an estimated cost of Rs 14,690 crore. The proposed steel plant, to be set up in Anjar tehsil in Kutch district, aims to provide steady supply of slabs to group company Welspun Corp Ltd (WCL) which makes heavy plates and hot rolled coils. WCL currently sources slabs from the market.

"The Environment Ministry has given the environment clearance (EC) to WSL for the installation of 3 million ton per annum (MTPA) capacity of integrated steel plant including 1.5 MPTA cement plant and 200 MW of captive power plant," a senior government official said. The approval has been given based on the recommendations of the Expert Appraisal Committee (Industry-I) of the ministry. The EC is subject to certain conditions, the official added.

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