The Orissa-based OCL India Ltd, producer of the Konark brand cement, is setting up its first integrated steel plant of 0.25Mt per annum capacity.
The company singed a memorandum of understanding (MoU) with the Orissa Government in November last year. The total cost of the project is Rs 204 crore, and would be funded through debt and internal accruals.
OCL’s total cement capacity is 1.3Mta. The company is a major refractory manufacturer with an annual capacity of 80,000 tonnes. The company has a sponge iron unit too, with a capacity of 120,000tpa. The company is promoted by the Delhi-based Dalmias. In 2004, OCL celebrated its diamond jubilee year. The company’s activities are located in Rajgangpur, near Rourkela. The steel unit is also coming up in this region. It is also learnt that OCL is planning to increase its cement production from the existing 1.3Mta to 2Mta including an increase in its clinker making facilities.