Uttam Galva’s arm signs tech pact with Posco for Wardha plant

Uttam Galva Steels Ltd. | Steel & Iron Products | Metals & Mining | BSE: 513216 | NSE: UTTAMSTL

23 Dec 2015 Evaluate

Uttam Galva Metallic, a part of Uttam Galva Group, has signed an agreement with the South Korean alloy major Posco to deploy new technologies at its Wardha plant in Maharashtra. The agreement is for transferring the 'finex' or fine ore reduction process, which is an alternative iron making technology using iron ore fines, and CEM technologies for its plant in Wardha. CEM (compact endless casting and rolling mill) is a process to replace a large portion among the CR products with thin hot rolled products. With this collaboration, the plant will have an initial steelmaking capacity of 1.5 million tonnes per annum and will be operational by April 2019.

These two technologies and processes from Posco at the Wardha unit will not only create new benchmarks in the domestic steel industry, but also bring in manifold increase in efficiencies and technology transfer will be deemed as the equity investment of the Korean steel major in the Wardha unit.

Uttam Galva Steels is one of the largest manufacturers of cold rolled steel ('CR') and galvanized steel (GP) in Western India. The Company is into the business of procuring hot rolled steel ('HR') and processing it into CR and further into GP and Colour Coated Coils. In Galvanized coils it specializes in making ultra thin sheets, which could be as low as 0.13mm thickness. The excess capacity of CR which is not used for galvanizing is converted to value added grades in Cold Rolled Closed Annealed ('CRCA') coils, cut to length sheets and also sold as Full Hard CR in the overseas markets.