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Visa Steel constructs a stainless steel plant in Orissa

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Plant Overview Visa Steel initiated construction of a stainless steel plant in Kalinganagar industrial complex in Jajpur district of Orissa. The plant has an annual capacity of 1.5 million tons, and the installation cost is estimated to be US$ 564 million. The first phase of the project with an annual capacity of 0.5 million tons is completed in December 2007. The entire plant is projected to become operational by 2010. Upon completion, the first phase of the plant consumes 1.5 million tons of raw material including 1.25 tons of iron ore. As part of the project Visa Steel also installed a 400,000 ton per annum capacity stamp-charged coke oven project in March 2006. Installation cost of coke oven project was US$ 36 million, and generates annual revenue of US$ 90 million. The coke oven project includes a blast furnace based on state-of-art Tata Korf technology, carbon hearth refractories, stoves and blowers and twin pig casting machines. The furnace was installed at a cost of US$ 21 million, and has an annual capacity of 225,000 tons. The company has also made arrangements for erecting a second blast furnace in lesser time and at a cheaper cost. Raw Material and Power Supply To ensure consistent supply of coal for fueling the plant Visa Steel acquired a coking coal mine in Australia. The company had also applied for coal blocks and iron ore mining rights in Orissa. The company was allotted a coal block at Patrapara block of Talcher district of Orissa. A 2 X 25 MW captive power plant based on co-generation was set up for powering the steel plant. Project Name VISA Steel and Stainless Steel Plant Location Kalinganagar industrial complex in Jajpur district Commence 2005 Completion 2010 Estimated Investment US$ 564 million Capacity 1.5 million tons per anum Key Players Visa Steel

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