NTPC - SAIL Power Company has been provided environment clearance for expansion of its Durgapur captive power plant in West Bengal with an investment of Rs 362 crore.

The company is a joint venture between state-owned firms, the country's major power producer NTPC and steel major SAIL.

The environment clearance will be valid for seven years. As per the proposal, the expansion project -- located within the Durgapur Steel plant -- will cost about Rs 361.94 crore, which includes about Rs 18.1 crore for environmental protection measures. The coal requirement will be 0.3 million tonnes per annum (MTPA) and will be sourced from SAIL's Ramnagore Captive Coal mine.

And the project does not require any further land acquisition. Among conditions that the company is required to comply with, the official said NTPC-SAIL Power Company has been asked to examine the feasibility of transportation of coal via closed conveyor from stock yard.

Till that time, it has been asked to transport coal through covered trucks. It has been asked to earmark a minimum amount of Rs 4.29 crore as capital cost for CSR activities and Rs 52.5 lakh per annum or the amount as per the CSR policy whichever is higher should be earmarked as recurring cost per annum till the operation of the plant.

That apart, NTPC-SAIL Power Company has has been asked to submit a status report of the implementation of stipulated environmental safeguards every six months to the Centre. NTPC formed a joint venture with SAIL on 50:50 basis in March 2001. The JV took over captive power plant-II located at Durgapur Steel Plant (2X60 MW) and Rourkela Steel Plant (2X60 MW) from SAIL.

SAIL invests Rs 2,600 crore in Rourkela

Steel giant SAIL is investing over Rs 2,600 crore for installing a three million tonnes per annum facility for hot rolled (HR) coils at its Rourkela plant to make auto-grade and special steel products.

The Maharatna firm has awarded the contract for setting up this hot strip mill to a consortium led by Mitsubishi and Larsen & Toubro.

The facility will produce high quality HR coils, including high strength API grades, auto body grades and other special steels.

Last week, Steel Secretary Rakesh Singh said that under SAIL's modernisation and expansion programme (MEP), various projects have been initiated, including this unit.

Singh holds additional charge as SAIL's chairman. In a bid to fast-track its MEP, the public sector undertaking commissioned projects worth Rs 10,200 crore in the financial year ended March 2015.

SAIL is also finalising its Vision 2025 document, through which it aims to increase its hot metal production capacity to 50 million tonnes, along with related business activities.

In a bid to keep pace with growing competition and optimise production as well as costs, the steel maker is investing in research and development (R&D) initiatives.

In 2014-15, SAIL spent Rs 284 crore on R&D, the highest by any steel maker in India.

Its R&D centre developed 24 new products during the last fiscal and the expenditure was 0.56 per cent of sales. It had clocked a sales turnover of Rs 50,627 crore during 2014-15 and its net profit stood at Rs 2,093 crore. During last fiscal, its capital expenditure stood at Rs 6,840 crore, which is expected to rise to Rs 7,500 in 2015-16. SAIL's hot metal production rose by 7 per cent to 15.4 MT in 2014-15 against the previous year. Saleable production was up by 3 per cent at 13.5 MT.