Vedanta, Larsen and Toubro plans mega steel plant in Orissa - India News and Travel Times Provides India-centric and other News and Features

UK-based Vedanta Resources Plc and India's Larsen and Toubro (L&T) plan to set-up a mega joint venture steel projects in Orissa. Chairman of Vedanta group Anil Agarwal called on Chief Minister Naveen Patnaik to update him about the status of ongoing initiatives of Vedanta for the people of Orissa. Talking to reporters after the meeting Agarwal said: "We are in advanced stage of discussions and a formal announcement for the project would be made soon." Agarwal also said that the first unit of a 2400 MW power plant at Jharsuguda in Orissa would be commissioned by summer. "We also discussed about the Jharsuguda (project), five hundred thousand tonnes of aluminium is under production, 1.5 million tonne under construction. We are putting first total power, 3,800 MW power is being built out of which 600 - first in India - Mega Watts...will start this summer," he added. He further said that Vedanta's one-million-tonne-per-annum aluminium refinery has started production at Lanjigarh in Kalahandi of Orissa district. Agarwal said he has informed Patnaik that the Lanjigarh refinery is fully operational by sourcing bauxite from other states, incurring a huge opportunity loss for both states as well as the company. Vedanta is also constructing Vedanta University in Orissa's Puri city, the Bill for which was already passed in July 2009. As per Vedanta, the company has already invested 39,000 crore rupees in various projects in Orissa.