“The BPSL has proposed to pump in Rs 4837 crore in its expansion plan while Utkal Alumina estimated that the entire cost of the refinery would be Rs 7563 crore.”
Aimed at boosting the industrialisation in the state, Odisha government Tuesday okayed the expansion plans of Bhushan Power & Steel Ltd (BPSL) and Aditya BirlA Group owned firm Utkal Alumina Ltd. “The State Level Single Window Clearance Authority (SLSWCA) has approved two expansion plans and recommended them to the High Level Clearance Authority (HLCA).
The expansion projects will generate an additional employment for 998 people,” General Manager of state-owned Industrial Promotion & Investment Corporation of Odisha Ltd (IPICOL) Kalyan Mohanty said. A decision in this regard was taken at the meeting of the SLSWCA chaired by Chief Secretary G C Pati.
The BPSL has proposed to pump in Rs 4837 crore in its expansion plan while Utkal Alumina estimated that the entire cost of the refinery would be Rs 7563 crore. This expansion plan has also been referred to HLCA for final approval.
In the cement sector, the SLSWCA approved the proposal of Ramco Cement to establish 0.9 mtpa cement grinding unit at a cost of Rs 406 crore. The plant will come up within the premises of Indian Metals & Ferro Alloys Ltd (IMFA) at Choudwar and promises employment for 105 people.
Saraf Agencies also planed to set up one 15 MW captive power plant (CPP) at Chhatrapur in Ganjam district, the site of its upcoming titanium dioxide plant. It got SLSWCA’s nod for the proposal.
Indian Oil Corporation Ltd (IOCL) has proposed to create a storage tank, to be used as a common user facility, at Berhampur at an investment of Rs 280 crore. The oil major would employ 622 people for this facility. The SLSWCA also approved the IOCL’s proposal.
Bhushan Stock Price
Bhushan stock price On August 13, 2015, Bhushan Steel closed at Rs 57.25, down Rs 0.2, or 0.35 percent. The 52-week high of the share was Rs 152.50 and the 52-week low was Rs 49.00. The latest book value of the company is Rs 344.15 per share. At current value, the price-to-book value of the company was 0.17.
Prasanta Patnaik 
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