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Bhushan to build Rs 28k cr plant in Bellary |
 Sanjay Singhal led Bhushan Steel will spent Rs 28,000 crore to build a 6 lakh tonne steel plant in the Bellary region of Karnataka, a place other large steelmakers, including ArcelorMittal and Posco are also eyeing to build steel projects.
“This is the first step in a process that can take anywhere between
three and 4 years,” said finance director Nitin Johari. However, he
declined to elaborate.
According to a Karnataka government official, Bhushan Steel’s
application has been screened by the local industry ministry and that
the government is waiting for Bhushan’s technical team to do their
evaluation. Sumitomo, which is also the world’s sixth-largest steel
company, already has a technology transfer agreement with Bhushan Steel
and had also expressed interest in jointly building the proposed 6
million-tonne steel plant in Asansol in West Bengal. Bhushan has
offered Sumitomo about 40% stake in the West Bengal project.
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