India’s Essar Steel has announced plans to invest Rs 1,500 crore in next year to complete the second phase of a pellet plant, which has an annual capacity of six million tons.

Besides, the company will start a new coke oven plant, which is capable of producing 1.35 million tons. The company is also considering setting up a 135-MW multi-fuel captive power plant.

In November, Essar Steel just commissioned an integrated iron ore pellet plant near Paradip in Odisha. The iron ore pellet plant is capable of producing 6 million tons a year.