Patna, (Bihar Times): A small private sector steel factory, Gangotri Iron & Steel Co (GISCO), has come up in Bihar on Sunday. It was inaugurated by deputy chief minister Sushil Kumar Modi at a function near Bihta in the Patna district. It is in Bihta that the proposed Indian Institute of Technology campus is going to be build by the Centre. Besides, Bihta has an air force base too.

The steel plant will come up at Mahadeopur village in Bihta and will produce earthquake-resistant TMT bars. The unit has the capital investment of Rs 60 crore.

Speaking on the occasion Modi said the industrial growth will be possible only with the help of local entrepreneurs. The plant is spread over 16 acres of land and has been approved by the State Investment Promotion Board (SIPB).

Modi said this factory is a welcome move at the time of global economic slowdown. It will generate job opportunities as other ancillary units will also come up here. The production in the plant will start from January 15.

Minister for disaster management Nitish Mishra, IT minister Anil
Kumar, GISCO chairman Ramawatar Jhunjhunwala and its Managing Director, Sanjiv Choudhary, spoke on the occasion.

GISCO also announced that it would establish a power plant at Bihta very soon for which land was being acquired.

It needs to be mentioned that the Steel Authority of India has already began work on the steel plants in West Champaran, Hajipur and Gaya districts.

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