Another $160M injection in Essar Steel Algoma’s Sault Ste. Marie plant
October 02, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
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Source: Express India
Sault Ste. Marie (Canada), October 2: Essar Steel is pumping in USD 160 million (nearly Rs 740 crore) into its Canadian operations to ramp up production to 3.6 million tonnes per annum to feed demand in North America, set up a captive power plant and clean up the environment.
… The company would spend USD 160 million to further increase production by 1 MT in the 12 months to March 31, 2009.
A chunk of the investment would go towards setting up a co-generation power plant that would cut the steel plant’s energy requirements by half. The captive power plant would use waste fuel from the steel plant to produce electricity and is expected to be commissioned by January next year.
Essar Steel Algoma also hopes to achieve greater synergies once its sister concern Essar Steel Minnesota, an integrated plant with its own iron ore reserves in the US, starts feeding it with the key raw material.
The Algoma plant currently sources ore from Cleveland Cliffs and coal from Massey in West Virginia in the US. The company last month announced an USD 1.6 billion investment in its Minnesota operations, where it would be setting up a 2.5 MTPA steel plant.

The search for this technology commenced in January of this year and after some engineering and construction we have managed to obtain and install a portable unit on No. 7.

