Board of Gallant Ispat today approved plan to expand capacity of its various plants at an estimated cost of Rs 510 crore, the company said today.
The decision to further expand capacity of various plants was taken at a meeting of the Board of Directors today, Gallant Ispat said in a BSE filing.
As per the plan, the company will expand its captive power plants, steel melting shop, DRI (directly reduced iron) and pellets plant.
"A total of approximately Rs 510 crore of capital expenditure has been projected for the...expansion," the company said in the filing.
In order to achieve projected sales and profitability targets, the company's installed capacity of the existing plants is bound to be expanded, it added.
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