Tata Steel shuts ferro alloys plant in Odisha
Indian steel giant Tata Steel Friday said it has shut down its 50,000 tonnes per annum ferro alloys plant in Odisha due to unavailability of raw material.
The plant was facing a raw material crisis after the company suspended operation at its Sukinda chromite mine May 17 because of non-renewal of lease.
"The company has requested the state government for its renewal," the company said in a statement.
"Ferro alloys plant at Bamnipal tried its best to run the plant with available inventory and using innovating practices," it said.
"Suspension of operation at Sukinda and Bamnipal has impacted livelihood of more than 6,000 people, with loss of revenue to the government to the tune of Rs.300 crore per annum," it said.
Ferro alloys are used in the production of steel.
(Posted on 09-08-2014)
Free Yearly Horoscope: Select your zodiac sign