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Guj govt inks MoU with CSC Taiwan to set up ES plant at Dahej

"The electrical steel plant will have two lakh tonne production capacity in phase-I and by the end of phase-II it shall have an overall capacity of one million tonne per annum," a top iNDEXTb official said.

Guj govt inks MoU with CSC Taiwan to set up ES plant at Dahej

State industrial facilitation arm iNDEXTb on Wednesday inked a MoU with China Steel Corporation (CSC), a Taiwanese steel maker, to set up an electrical steel (ES) plant with one million tonne capacity at an investment of $1.2 billion (Rs 6,000 crore) at Dahej GIDC estate.

The MoU was signed between Managing Director Industrial Extension Bureau (iNDEXTb) Mukesh Kumar and Chairman CSC (Taiwan) group J D Lin, in the presence of Gujarat Chief Minister Narendra Modi and Ambassador of Taiwan Ong Wen Chyi.

"The electrical steel plant will have two lakh tonne production capacity in phase-I and by the end of phase-II it shall have an overall capacity of one million tonne per annum," a top iNDEXTb official said.

CSC, Taiwan has incorporated a subsidiary China Steel Corporation (CSC) India, for setting up the plant in around 145 acres at Dahej GIDC estate.

The company would be investing around $178 million (around Rs 900 crore) in the first phase, and totalling up to $1.2 billion (Rs 6,000 crore) by the second phase, expected to get completed by 2016.

The investment has been approved by the Investment Commission, Ministry of Economic Affairs, Taiwan, an official statement said.

"The work for first phase is scheduled to commence from June 2012, while the plant is expected to go on stream from 2014," a CSC official said.