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MS Agarwal Foundries to set up backward integration project

Friday, 13 Nov 2020
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MS Agarwal Foundries is in the process of setting up Rs 1,200 crore backward integration project for sponge iron and a steel rolling mill at Madhavaram, near Kurnool in Andhra Pradesh.

The company, which has a steel mill at Toopran near Hyderabad in Telangana and another unit at Madhavaram, expects to commission both the backward integration plant and the new mill at Mantralayam by March 2022.

The new project is being funded through internal accruals and loans, and will double the company’s manufacturing capacity for sponge iron and steel products.

The capacity will go up to 0.55 million tpa from 0.22 million tpa.

Over the years, the company has developed various grades of steel suitable for different applications through in-house R&D teams.

Recently, it also launched MS Life 600+, seismic-resistance steel, manufactured at Toopran unit. This combines high-strength steel which is ductile and safe.

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