Bhubaneswar, February 19, 2020: Tata Steel Special Economic Zone Ltd. executed the sub-lease deed of M/s East Coast Overseas Pvt. Ltd. on February 18, 2020. East Coast Overseas Private Ltd. (ECOPL) had signed an agreement with Tata Steel Special Economic Zone Ltd. (TSSEZL) in December 2019, for setting up a manufacturing and trading unit in Gopalpur Industrial Park. The plant will cater to export market and is scheduled to be operational by 2020. It will export 45,000 MT of chromite sand annually. On full capacity, the plant will generate lot of employment opportunities. The total investments envisaged for the plant is approximately INR 5 Cr.
The ECOPL and TSSEZL officials during the bhoomi puja by the unit.
The bhoomi puja (worship of the land) by the unit was done on December 12, 2019, in the august presence of officials of ECOPL and Tata Steel Special Economic Zone Ltd.
Mr. Prasanta Mallick, Managing Director, Tata Steel Special Economic Zone Ltd. in a message welcomed ECOPL and stated” Its entry is at the right place as we are focusing on the abundance of minerals near Gopalpur Industrial Park to rope in mineral based manufacturers. Their presence in Gopalpur Industrial Park will certainly be an added advantage to not only uplift Odisha but also provide employment opportunities to local people”.
Gopalpur Industrial Park is located on National Highway 16 near Brahmapur and is just a 2-hours drive from Bhubaneswar. With plug and play infrastructure, multi-modal logistics connectivity, ready environmental clearance and clear land title, Gopalpur Industrial park is emerging as the preferred investment destination of India. At present, the Industrial Park comprises of Ferro Chrome Plant, an anchor unit by Tata Steel, and Anadrone Systems Pvt. Ltd. – a defence manufacturing unit. Tata Global Beverages Ltd. has signed an agreement with Tata Steel Special Economic Zone Ltd. for setting up a tea packaging unit with 36 million kgs capacity. The construction of the unit has started and is scheduled to be operational by 2020. TSSEZL has been engaging with large business houses across the country for setting-up their manufacturing unit and expects to firm up agreements with few of the companies shortly.
ABOUT TATA STEEL SPECIAL ECONOMIC ZONE LIMITED
Tata Steel Special Economic Zone Limited, a 100% subsidiary of Tata Steel Ltd, is developing its flagship industrial park in Odisha known as Gopalpur Industrial Park. The company plans to develop the industrial park as the emerging
manufacturing hub both for domestic and export-oriented industries. The Company would provide common Infrastructure, plug and play utility infrastructure and associated services to facilitate smooth grounding of the incoming units.
ABOUT EAST COAST OVERSEAS PRIVATE LIMITED
East Coast Overseas Private Limited (ECOPL) is a sister concern of PJ Minerals Private Limited with its corporate office at Bhubaneswar. The company is manufacturer of various kinds of ore, concentrates, minerals and mineral based products, such as coal, coke and all their products and by-products, ferrous and non-ferrous metals and their alloys, including iron and steel, alloy steel products, stainless steel products, ferro alloy, chrome products, including silico chrome, charge chrome, chromium metal for refractory use, chrome bricks, chromite-magnesite bricks, magnesite chrome, foundry sand, different chromium chemicals, etc.
Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.