Bhopal: TMT iron bars makers Shri Bajrang Power and Ispat Ltd (Goyal Group) on Friday inked a MoU with the Madhya Pradesh government to set up an integrated steel plant in the state, at an estimated investment of Rs 780 crore.
The company, which has a strong presence in Chhattisgarh, is expected to employ around 3000 people in its proposed unit, whose first phase will be commissioned by 2015, in Shahdol district's Beoharai tehsil, company sources told reporters.
The MoU was signed by the Group's Director S K Goyal with the Madhya Pradesh Trade and Investment Falicitation Corporation Ltd's Managing Director Arun Bhatt.
The land for setting up the plant as well as other required facilities have been identified and the process to acquire it is on.
A 64 MW captive power plant will also be set up by the company to fulfill the unit's electricity requirement, company sources said.


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