Latest Project Updates
Rs.500 Million DRI WHRB and TG Mfg. Expansion Unit in Seraikela Kharsawan, Jharkhand
Executive Summary: A prominent mining company, plans to establish a wire rod coil manufacturing unit in Seraikela Kharsawan, Jharkhand, with capacities for various products to meet regional demand. The Rs. 169.4 million project received environmental consent in May 2023. Expansions in June 2023, involving billet caster, power plants, SMS, sponge iron plant, rolling mill, DRI WHRB, TG, and a pellet plant, represent a significant Rs. 26,253 million investment, obtaining pollution control authorities' consent by December 2023.
Rs.480 Million New Iron Ore Production Expansion Project in Uttar Bastar Kanker, Chhattisgarh
Executive Summary: In a major initiative, a company plans a Rs.480 million iron ore production expansion in Hahaldi, Chhattisgarh. The project involves significantly increasing the production capacity of the Hahaladdi Iron Ore Mine from 1,50,000 TPA to 12,00,000 TPA. Construction is scheduled from March 2025 to January 2067, and the project has been submitted for environmental clearance as of December 2023, signaling a commitment to sustainable mining practices and regional development.
Rs.900 Million Steel Plant Expansion Project in Burdwan, West Bengal
Executive Summary: In Panagarh, West Bengal, an undisclosed company is embarking on a substantial expansion of its grain-based distillery unit. The project, estimated at Rs. 1200 million, initially aimed to double capacity to 240 KLPD and enhance Co-Generation Power Plant to 8.0 MW. As of December 2023, a further expansion plan includes raising distillery capacity to 340 KLPD and the power plant to 8.0 MW, with an additional investment of Rs. 400 million, after obtaining consent from state pollution control authorities.
Rs.300 Million Steel Plant Expansion in Raigad, Maharashtra
Executive Summary: A steel plant in Khopoli, Maharashtra, plans to increase M.S. tube production capacity from 72,000 to 1,32,000 metric tons per annum. Having doubled capacity in 2015, the current pre-project stage involves backward integration expansion by 40,000 MTPA. Anticipated for completion by Q4 FY25, the expansion incorporates a state-of-the-art cold rolling mill and steel sheet galvanizing facility, funded through internal accruals at a total Capex of ~Rs.300 million.
Rs.9600 Million Sponge Iron Plant Expansion Project in Chandrapur, Maharashtra
Executive Summary: A major industrial project in Maharashtra involves expanding facilities for induction furnace, rolling mill, and submerged arc furnace, aiming to produce ingots, billets, TMT, and ferro alloys. The multifaceted initiative, with an estimated cost of Rs. 7600 Million, has undergone environmental clearance processes since July 2019. Additional expansions in 2021 and 2022 increased sponge iron and power plant capacities, with a total investment of Rs. 3000 Million and Rs. 9600 Million, respectively. As of December 2023, the project awaits clearance from the Ministry of Environment, Forest, and Climate Change in India.
MS-Gear Line Mfg. Expansion Project in India
Executive Summary: A manufacturing expansion project in India aims to increase the capacity of an MS-Gear line by 0.4 million units by January 2026. The current capacity is 2.0 million units, operating at 90% utilization. The investment details are pending board approval, with a funding mix of internal accruals and borrowings anticipated. Project approval was secured as of December 2023, signaling a strategic move to meet market demands and enhance the company's standing in gear manufacturing.
Standalone Re Rolling Unit Expansion Project in Sundergarh, Odisha
Executive Summary: A new downstream steel plant is to be set up in Lathikata, Sundergarh, Odisha, producing MS Pipe, MS Strips, MS Structure and an electroplating unit. The Rs.800 million project has received approval from State Level Single Window Clearance Authority and aims to create job opportunities and contribute to Make in India initiative.
Rs.1000 Million New Steel and Steel Products Mfg. Project in Gurugram, Haryana
Executive Summary: A steel and steel products manufacturing unit in Pathredi, Gurugram, Haryana, with an estimated cost of Rs.1000 million. The company has obtained consent from state pollution control authorities for project establishment as of November 2023.
Rs.52000 Million New Integrated Steel Plant in Jharsuguda, Odisha
Executive Summary: In Jharsuguda, Odisha, a major industrial initiative is underway, featuring a cutting-edge 2 MTPA Integrated Steel Plant, a 240 MW Captive Power Plant, and a 1 MTPA Cement Grinding Unit. Valued at Rs. 52,000 million, the project has secured approval from the High-Level Clearance Authority as of November 2023, marking a pivotal step in its realization and potential to significantly impact the region's industrial landscape.
New Stainless Steel Strips Mfg. Project in Hisar, Haryana
Executive Summary: A metal manufacturing company based in Hisar, Haryana, is initiating a stainless steel strips project in the Industrial Area. With an estimated cost of Rs.70.865002 million, the project has secured approval from state pollution control authorities as of November 2023.