Kolkata-based Electrosteel Castings Ltd, a water infrastructure company which provides techno-economic solutions in water supply and sewerage systems, has floated a new subsidiary, Electrosteel Integrated Ltd, to set up a 1.3-mtpa integrated steel plant in Jharkhand. The proposed plant will also manufacture DI (ductile iron) pipes. The total estimated cost of the project is Rs 5,000 crore.
ECL has already received allocation of Parbatpur coal block in Jharia coalfield area for mining of coal for captive consumption.
The equity component of the project will be around Rs 1,239 crore, out of which ECL's share is Rs 500 crore which has been cleared by the board. The equity investment will be taken up in phases for two-and-a-half years, subject to financial closure.
Other infrastructure related works are in progress. The benefit of the captive mine is expected to accrue from 2008-09.
Besides, to counter the rise in the price of iron ore, a major input for manufacture of DI pipes, ECL will install a sinter plant. The plant will use iron ore fines instead of the costly lump ore. The plant is expected to commission by December this year.
ECL has successfully implemented the stamp charging system at its coke oven plant for producing metallurgical coke at lower cost. The company has also been allotted an iron ore mine in Kodolibad, Jharkhand, and infrastructure facilities are being developed.

Contact: Electrosteel Castings Limited, 19, Camac Street, Kolkata, West Bengal 700017. Tel: 033-22839990; Fax: 033 22894336 to 40