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The Steel Authority of India (SAIL) plans to rope in separate strategic partners from the private sector for the three different special purpose vehicles to be created for its Rs 38,400 crore Sindri project at Dhanbad in Jharkand.
SAIL proposes to revive the Sindri unit of erstwhile Fertiliser Corporation of India and is setting up a 5.6 MTPA steel plant with an outlay of Rs 29,000 crore, a 1.15 MTPA gas-based fertiliser plant for Rs 4,400 crore and the rest Rs 5,000 crore for the 1,000 MW power plant. The project has been cleared by the Cabinet Committee of Economic Affairs (CCEA). The projects would be funded in a debt-equity ratio of 70:30 and would be completed within 48 months from the date of placement of orders.
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