Southern Ispat & Energy (SIEL) is planning to pump in Rs 300 crore for
expansion of production capacity, acquire coal mine in Indonesia and an iron ore
mine in Madhya Pradesh.
SIEL is in final stages to acquire Kachchh based New Tech Forge for Rs 95
crore to expand presence in alloy steel space. New Tech has an integrated steel
plant at Bhuj which produces alloys and stainless steel products at the rate of
2,50,000 tpa.
SIEL also proposes to increase its captive power production from 8 to 30 MW
using the coal imports from Indonesia. The company is also acquiring 100 per
cent equity in an iron ore mine in Madhya Pradesh for Rs 50 crore.