Moneycontrol Bureau
Bhushan Steel shares rallied nearly 8 percent intraday Monday on environment clearance for pellet plant in Orissa.
"The company has received environment clearance from Ministry of Environment, Government of India for addition of 7 million tonne per annum (MTPA) pellet plant," said the steel company in its filing.
It was addition to the existing 5.6 MTPA integrated steel plant in district Dhenkanal, in Orissa based on DRI-BF iron making and BOF/EAF steel making production facilities, it added.
Total project cost is estimated to be Rs 3000 crore.
At 13:03 hours IST, the scrip of Bhushan Steel was quoting at Rs 38.35, up Rs 2.25, or 6.23 percent on the BSE.Posted by Sunil Shankar Matkar
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