| Speaking to Business Standard, B Suresh Kumar, director of Steel Exchange of India, said: "The Mauritius government had in-principle agreed to allot 5 acres of land in that country for setting up the 25,000-tonne capacity re-rolling mill. The company would take 8-10 months time to complete the project and would start production from next fiscal." |
| Steel Exchange India currently has a 70,000-tonne capacity steel melting unit at Ravulapalem in East Godavari district which needs steel billets or scrap as raw material. |
| The company is now spending Rs 10 crore to expand the capacity of its Ravulapalem unit to around 1,00,000 tonnes a year. To reduce the production cost, Steel Exchange has also formed a joint venture company in Mauritius sometime back. |
| "There is a lot of demand for steel in Mauritius and its surrounding islands. Keeping this in mind, we are setting up the re-rolling mill in Mauritius at an investment of Rs 5 crore which would be funded through internal accruals. The Mauritius unit will require about 25,000 tonnes of raw material a year which we plan to supply from our Ravulapalem unit. The finished product will be solely sold in Mauritius and its surrounding islands," Suresh Kumar said. |
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