Economy & Market
Vizag Steel plans slag-based Rs 2,000 crore plant
Visakhapatnam Steel Plant (VSP or Vizag Steel) plans a slag-based cement plant outlay of about Rs 2,000 crore. VSP generates over 8,00,000 tonne of slag every year as a by-product, of which some 1,000 tonne are being exported.
To fully utilise the slag and fly-ash, the management is now looking at starting a slag-based cement plant. VSP wants to set up this cement plant with private participation. L&T, KCP Cements and a few other cement giants have already expressed their interest to join hands with VSP. Vizag Steel Plant will take a 50 per cent stake in the proposed plant.
VSP is spending another Rs 1,100 crore on a proposed slurry pipeline. NMDC and VSP are jointly laying the 436 km pipeline for transporting 10 million tonne of iron ore for an investment of Rs 2,200 crore.
Of the total project cost, 50 per cent will be borne by VSP. The project would be completed in two years from the day of signing the agreement. The present expansion of the plant, from 3 million tonne to 6.3 million tonne would fully be completed by the end of this financial year.