It was reported that Dr YS Rajasekhara Reddy chief minister of Andhra Pradesh was expected to inaugurate SBQ Steels' Phase I of 500,000 tonne integrated pig iron plant at Ankalapatturu near Krishnapatnam in Nellore district on September 2nd 2009.
But as per report, the helicopter carrying Dr Redyy went missing on early Wednesday morning and the search is on.
SBQ Steel plans to raise the capacity to 1.5 million tonne per annum in Phase III at an outlay of INR 2,500 crore. The funding for this phase will come from a combination of internal generation, debt funds and an IPO.
SBQ Steels plant is coming up in three phases, on a 650 acre site.
Phase I - Blast furnace, a sinter plant and coke oven
Phase II - SBQ is investing INR 400 crore to produce 150,000 tonne per annum of sponge iron and 500,000 tonne per annum of steel billets and blooms and nearly 600,000 tonne per annum of bars and wire rods. This phase is in an advanced stage of construction and is likely to be ready by December 2009.
Phase III - Steel making capacity will be raised to 1.5 million tonne per annum involves setting up a 250 MW captive power plant and a 10 mld desalination plant.
Wednesday, September 2, 2009
SBQ Steels plant was to be inaugurated by AP CM Dr Reddy
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