Steel Exchange India announced the progress of its expansion projects in a stock exchange filing. The company has allocated INR 60 crore (USD 7.1 mln) in capital expenditure to increase the installed capacity at its integrated steel plant (ISP) in Malliveedu, L Kota Mandal, Vizianagaram district, Andhra Pradesh.
The continuous casting machine has been successfully implemented and is ready for commissioning. This upgrade increases the plant’s installed capacity from 250,000 tons per annum to 360,000 tons per annum of billets.
Additionally, the new 8 mm rolling mill project is progressing as planned, with 50 pct of the work completed. The project is expected to be finished within the next three months, increasing the overall rebar installed capacity from 225,000 tons per annum to 357,000 tons per annum.
Established in 1999, Steel Exchange India Limited is the flagship company of the Vizag Profiles Group. It operates the largest private integrated steel plant in Andhra Pradesh and Telangana, producing sponge iron, billets, and rebar.
1 USD / 83.5 INR
