BMM Ispat is adding capacity at its Hospet plant in Karnataka.
BMM Ispat is adding capacity adjacent to its existing facility and has plans to focus on producing long products, alloy steel for automobile sector and increase captive power production to 675 MW from 235 MW produced currently. The company is setting up an additional three million tpa steel plant at Hospet at a cost of Rs 6,700 crore. To fund the expansion plan, the promoters are bringing in Rs 2,500 crore as their share and the balance Rs 4,200 crore is debt financed by a consortium of 16 banks led by State Bank of India.
On completion, the capacity of BMM will be a five million tpa by 2014.
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