Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Odisha government has approved investment proposals worth $250mn in steel and downstream plants to boost the steelmaking capacity in the state, according to local media reports. The proposal includes the construction of a pellet-making and grinding plant with an annual capacity of 2mn mt by Narbheram Power and Steel.


A part of the investment would also be utilized for expanding Viraj Steel and Energy’s steelmaking capacity to 1mn mt from the present 300,000mt. Other projects include expansion of BR Sponge and Power’s annual production capacity from the current 210,000 mt, a 1mn mt iron ore beneficiation plant, a 600,000 mt pelletization plant, a 112,000mt billet making plant, and a 12MW captive thermal power plant in the Indian state.


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