Orissa Sponge Iron and Steel firmed its plan for setting up of a one million ton integrated steel plant, reports Business Line. 
                                        
The company is also believed to have received environmental clearance for its iron ore mines. The estimated reserves of iron ore mine is 130 million tons said to be worth on a conservative basis over Rs 750 billion.

The company has also obtained coal mining lease in the Orissa worth over Rs 100 billion.

Shares of the company gained Rs 26.00, or 4.99%, to close at Rs 546.85. The total volume of shares traded was 61,274 at the BSE. (Tuesday)