Bhushan Steel may look for fund raising after October

Bhushan Steel & Strips has been going under a lot of development lately. The company has identified land for their 6 million tonne per annum (MTPA) Orissa steel plant and also some land for their Karnataka steel plant. The company is awaiting clearance by the environment ministry for both the plants.

Neeraj Singal, MD of Bhushan Steel & Strips, in an interview with CNBC-TV18's Sonia Shenoy and Ekta Batra, gave latest update on the lands acquired for the Orissa and Karnataka steel plant and their plans for the company going forward. Below is the verbatim transcript. Also watch the accompanying video. Q: How much of investment will you be pumping into the Orissa plant? When will the plant come on stream? How will that help your capacity? A: We have started the production for 3 million tonne. We will be acquiring the land for the next 3 million tonne. We will come into production by 2012. Q: What are you planning for your Karnataka steel plant for which you have identified some land? A: The land acquisition is continuing. It will take one year