Visa Steel and China-based Baosteel Resources plan to extend their partnership by setting up a 100,000tn/yr ferrochrome plant in Orissa, India. Regarding the stainless steel plant at the Kalinga Nagar Industrial Complex in Orissa, the first phase production of 0.5 million tonnes would start by December. The company is implementing 1.5 million tonne per annum special and stainless steel plant there. It has also signed a pact with the Chhattisgarh government to set up a 2.5 million-tonne steel plant in Raigarh. The company has acquired 250 acres of the total 1000 acres required for the project. The total investment for the Chhattisgarh project is Rs.8000 crore, of which around Rs.2500 crore will be invested for the first phase.
