Steel Exchange India has allocated approximately Rs 60 crore from the funds raised against issue of NCDs of the company towards the ongoing capex enhancement initiatives in the year 2023-24 to boost the company's production capabilities and operational efficiency.
The company is in process of increasing the installed capacity at its Integrated Steel Plant (ISP) located at Malliveedu, L. Kota Mandal, Vizianagaram District, Andhra Pradesh.
The Concast (Continuous Casting Machine) has been successfully implemented and is ready for commissioning. This increases its Installed capacity from 2,50,000 MTA to 3,60,000 MTA of Billets.
Work on the new 8mm rolling mill is going as per schedule with 50% of completion and is expected to be completed within the next three months. This will increase its overall rebar installed capacity from 2,25,000 MTA to 3,57,000 MTA.
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