The Projects Today team has got confirmation that work has finally started on the long-awaited Kapila Metals mild steel billets unit worth Rs 540 crore in Maharashtra.
Kapila Metals (KMPL) has taken up setting up of a mild steel billets unit with a capacity of 1,000 tpd at MIDC in Jalna district of Maharashtra. KMPL has also plans to set up structural TMT bars of 1,000 tpd, sponge unit of 1,000 tpd, waste heat recovery unit of 24 MW and 26 MW of coal-based power unit. The entire project will occupy 29 acre of land.
The steel unit, initiated in 2011, was on hold till 2014 on account of unfavourable market conditions. The execution of the project got further delayed as the environment clearance was accorded only in 2017. Land has been already acquired for the project and detailed project report (DPR) is ready.
As per information shared with Projects Today, the promoter is optimistic to complete the project by end of 2019. The project will be executed by an in-house team.