Super Smelters mulls Rs10,000Cr steel investment in Gadchiroli, MoU Likely During ‘Advantage Vidarbha’

Nagpur: Kolkata-based Super Smelters Limited is expected to sign a memorandum of understanding (MoU) with the state govt for setting up a steel unit entailing an investment of Rs10,000 crore during the Association of Industrial Development's three-day conference ‘Advantage Vidarbha' starting February 6. The event, organised under Khasdar Audyogik Mahotsav, brings together policymakers, investors, and industry leaders to showcase the region's strengths and growth potential.
Gadchiroli is reported to be the company's preferred location. Super Smelters, a listed entity under the Sai Group, markets its Super Shakti brand of TMT bars.Company officials recently approached AID to show interest in investing in the region, particularly Gadchiroli, which has already attracted attention from several major steel players, including JSW, over the past year.AID secretary Vijay Sharma said after the management team contacted AID, they were put across the state authorities for further process. The MoU signing is expected to take place in the presence of Union minister Nitin Gadkari and Maharashtra chief minister Devendra Fadnavis during the conference's inauguration.AID, an independent organization dedicated to the region's economic development, is patronized by Gadkari.The Sai Group has a total steel manufacturing capacity of 4.43 million tonne, along with a 111 MW captive power plant. Other group companies include Giridhan Metal Private Ltd, Super Shakti Metaliks Ltd, Sai Electro Casting, and Sai Sponge (India) Private Ltd. Founded in 1995 by steel industry veteran Sitaram Agrawal, Super Smelters is the group's flagship company, employing around 2,800 people.This would be yet another major steel investment announced at the AID event. Last year, JSW revealed plans to set up what is being called the largest green steel complex at Gadchiroli, a project expected to require Rs1 lakh crore with a 25 million tonne capacity.While Gadchiroli remains a prime location for Super Smelters, AID sources said the company may also consider other sites in the region.The area near Chamorshi in Gadchiroli is rapidly emerging as a hub for steel manufacturing. The Maharashtra Industrial Development Corporation (MIDC) plans to acquire 11,000 hectare land for various steel projects, including JSW, with proposals at different stages depending on the company.