Mesco Steel will pump in Rs 1,000 crore for revamp and expansion of Maithan Ispat. Mesco acquired the steel company in March 2015.
The projex plans will be executed in two phases. In the first phase, Rs.300 crore will be invested for installing an electric arc furnace of 50 tonne, a billet castor of the same capacity and a rolling mill. Of the total investment, SBI has agreed to lend Rs.170 crore.
In the second phase, Rs.700 crore will be spent to install two DRI kilns of 500 tpa and power generation capacity of the existing unit will be raised from 30 MW to 90 MW.
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Steel (Kalinganagar) Project