"The only hurdle now is power supply. If the power and electricity department gives us power, we can start a test run within one week," ISPAT CEO Roshan Agarwal said.
The steel re-rolling industry has obtained clearance from the Mizoram pollution control board and the state's power and electricity department.
The industry will require at least four megawatt of power for which it has installed a 2500 KW transformer and two 500 KW transformers.
A power sub-station has been built at about eight kilometres from the industry.
The industry has submitted a proposal to the state's works department for maintenance of the approach road.
A plot of land measuring 15,000 square metres at Export Promotional Industrial Park (EPIP) was leased to the industry for a period of 99 years.
After the opposition Mizo National Front created a furore, the Congress government has recently reduced the term of landlease to the non-tribals' owned industry to 25 years, thus settling the dust.
The CEO said the industry will depend on 50 per cent recycled metal scraps from Mizoram and another 50 per cent virgin iron ore from West Bengal's Durgapur.
The industry has so far stocked 1,500 metric tonnes of metal scraps.
"We purchase metal scraps at Rs 20 to Rs 25 per kilogram, based on the quality of the metal," the CEO said and expressed concern that not a single Mizo has involved in the metal scraps business. The industry will utilise all the metal scraps in Mizoram thereby creating job opportunities.
The industry will also create 60 skilled jobs and another 60 unskilled jobs, the CEO said, adding that locals would be given preferences in the unskilled jobs.
The industry is expected to produce 90 tonnes of steel, including TMT bar, MS Angle, square bar and flat iron.
The company had availed Rs 20 crore loan from NEDFI and SBI, Guwahati to set up the plant. While 65 percent of the share is owned by Agarwal group, Baid group owns 33 percent, while a local C Lalduhawma, of Aizawl's Ramhlun Veng owns one percent share.