Tata Steel plans Rs45,000-crore coal-to-liquid JV with Sasol in Orissa
19 January 2010
Tata Steel, the largest private sector steel maker in the country, plans to set up a coal-to-liquid converter project in tie-up with South Africa's Sasol Synfuel International.
The proposed project, the country's first, will be set up in Orissa with a total investment of Rs45,000 crore.
Tata Steel vice chairman B Muthuraman and Sasol's managing director Ernst Oberholster submitted the proposal for setting up a 3.6 million tonne project to Orissa chief minister Naveen Patnaik on Monday.
Addressing reporters after the meeting, Muthuraman said they have not yet identified a site for the mega project but has decided to locate it within the state.
The mega project will produce 80,000 barrel of liquid fuel per day when commissioned in 2018 and Tata and Sasol will hold equal (50:50) stake in the project.
The project would produce superior diesel, LPG and naptha as also by-products like tar, phenol, sulpher and amonia.