Orissa Sponge Iron (OSIL) is contemplating setting up a 2.5 lakh tpa steel billet making facility in the Bellary region of Karnataka. The plant, costing around Rs.200 crore, would come up either at Hassan or Chitradurg.

The project from part of OSIL's longterm plans of expanding steel capacity from the current 2.5 lakh tpa to 10 lakh tpa, by 2010, with investment envisaged of Rs.800 crore. OSIL currently has a facility at Palaspganga in Keonjhar district of Orissa that produces sponge iron and 2.5 million tpa of steel billets.

The Torsteel Research Foundation of India (TRFI) and Industrial Promotion & Investment Corporation of Orissa Ltd are the main promoters of OSIL.

OSIL's steel billets find their way to Torsteel Ltd (also promoted by TRFI) that produces TOR rebars -- high tensile concrete-reinforcing CTD bars used in the construction industry.

TOR is a a trademark owned by TRFI. Currently, about 10 lakh tonnes of TOR steel is being sold in the country every year, produced by about 30 licensees using steel billets from sources identified by Torsteel Ltd. Henceforth, TOR products will be available only through Torshop outlets, it is learnt.