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Finnish Outotec gets contract for iron ore sinter plant in India.

M2 EQUITYBITES-2 September 2010-Finnish Outotec gets contract for iron ore sinter plant in India(C)2010 M2 COMMUNICATIONS

2 September 2010 - Finnish construction and engineering company Outotec Oyj (HEL: OTE1V) said today that it will design and deliver an iron ore sinter plant to Steel Authority of India Ltd (BOM: 500113), or SAIL.

No financial details were available. However, solutions with corresponding scope range from EUR20m to EUR25m, Outotec said.

The plant will be installed at SAIL's Bhilai Steel Plant in Chhattisgarh. Outotec will implement the project in consortium with Indian construction company Larsen & Toubro Ltd (BOM: 500510).

Outotec's scope covers engineering, supply of proprietary and special equipment as well as technical services for a sinter plant with annual capacity of 3.7 million tonnes. Larsen & Toubro will cover supply of local components and site construction works. The plant is scheduled to start operations in 2012.

The sinter plant is part of SAIL's programme of expanding the annual capacity of Bhilai Steel Plant to seven million tonnes of crude steel.

(EUR1 = USD1.3)

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Publication:M2 EquityBites (EQB)
Date:Sep 2, 2010
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