Ispat to invest Rs10,000 crore over five years

16 Aug 2007

1

Mumbai: Steelmaker Ispat Industries Limited is planning to expand overseas through capacity expansion and backward integration. It will also invest about Rs10,000 crore within five years to ramp up its domestic production.

"Ispat Industries Limited (IIL) and its parent company global steel holdings are working on plans to expand operations both in India and overseas. We would be ramping up our production at Dolvi plant near here from 3 mt to 3.6 mt per annum," IIL executive director, finance, Anil Surekha said.

He said the company''s domestic expansion plans include building a 1 million tones per annum (MTPA) coke oven plant and 4.5 MTPA coke pellet plant (likely in Visakhapattanam).

Surekha said Rs3,000 crore would be required for ramping up Dolvi plant''s capacity from 3.6 mt to 5 mt by 2011-12. IIL''s proposed 2.8 mt plant in Jharkhand would require an investment of about Rs5,750 crore, he added.

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