Rungta Gets Steel Signal

Breaking the road block on Sponge Iron Route for Steel Plants, the Mining Major, Rungta Mines Limited (RML) has received Green Signal for setting up of two Integrated Steel Plants, in Twin Locations, entailing combined investments of Rs 3,526 crores in Keonjhar.

RML is a Rs.10,000 Crore Plus Net Worth Flagship Company of SR Rungta Group, which has been into Mining Business of Iron Ore, Manganese, Lime Stone, Bauxite, Dolomite and it is the major producer of Iron Ore in Eastern India.
State Level Single Window Clearance Authority (SLSWCA) has recommended the projects to the High Level Clearance Authority (HLCA) headed by the Chief Minister for Consideration.
Two investment proposals in the Steel Sector by RML were considered in SLSWCA, which received favorable disposition as it will boost industrialization move in the Mining Zone.
Earlier Sponge Iron based Steel Complexes were not allowed by the State Government and now with Policy Change, SLSWCA cleared the proposals for two 0.53 MTPA Integrated Steel Plants at Karakolha and Karakhendra in Keonjhar District.
While RML will expand its existing Sponge Iron Plant at Karakolha to an Integrated Steel Plant (ISP) of capacity 0.53 MTPA, the Mining Major  proposes to set up ISP of 0.53 MTPA Capacity at Karakhrndra. Both are in Mineral Rich Keonjhar District.
Steel Manufacturing Process will be via Pelletisation, Sponge Iron, Induction Furnace, Rolling Mill etc.
Products will be Steel TMT, Flat, Round, Wire Rod, Structural and alloy Steel, said official sources.
RML Director Sidharth Rungta is spearheading the initiative for expanding the Mining Major’s activities to Steel Manufacturing Sector.
So Steel Downstream Projects are being taken up and it is pertinent to mention, way back in 2005, RML signed a MoU with State Government to set up a 2 MYPA ISP with an investment of Rs.2,275 Crore in two phases.
While 1 MTPA ISP was to be set up at Kamando in Sundargarh, another was planned at Jharband in Dhenkanal, said sources.
So far RML has installed 0.6 MTPA Capacity Steel Mill in Sundargarh and reportedly work on Rolling Mill (TMT) of 0.217 MTPA is in progress.
Similarly partial production from Dhenkanal Steel Complex is expected by December, 2019, sources said.
Both the proposed Steel Complexes will generate job opportunities for more than 2000 People in the State.
RML was a major participant in Make In Odisha (MiO) Conclave and had announced its intention to invest in Steel Downstream Sector.
Raw Material for both the projects is available as there are more than 10 Mineral Blocks operational within 25-40 Kilometer from the plants.

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