Steel Authority of India, (SAIL) and Kobe Steel is setting up a joint venture (JV) company to carry out a detailed feasibility study for a commercial ITmk3 iron making plant in India. The 50-50 joint venture company will be named as SAIL-KOBE Iron India. The joint venture company will be utilizing Kobe Steel's ITmk3 technology, the latest generation iron making technology where iron nuggets are produced by using iron ore fines and non coking coal.
Both the company’s have been working on a preliminary study to utilize the ITmk3 process developed by Kobe Steel since signing a memorandum of understanding in March 2010. ITmk3 technology produces high quality iron nuggets and the technology is also environmental friendly. Kobe Steel and SAIL will now carry out the detailed feasibility study to bring about the early implementation of the project.
The joint venture company will be engaged in constructing ITmK3 iron making plant and associated facilities to be constructed at SAIL's Alloy Steels Plant in Durgapur in West Bengal. SAIL's mines will be providing the iron ore to the plant and will have a capacity of 500,000 metric tonnes of iron nuggets per year. Non-coking coal, sourced within India, will be used as the reductant in the ITmk3 process.
In 2013 after the detailed feasibility study is completed with the environmental permits having been obtained, the plant construction will commence and the plant will be operational in 2015.
| Company Name | CMP |
|---|---|
| Tata Steel | 140.25 |
| JSW Steel | 943.90 |
| SAIL | 110.60 |
| Jindal Stainless | 655.50 |
| Jindal Saw | 300.05 |
| View more.. | |
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