Prakash Industries has modernized its 4th Rolling Mill at Raipur in the state of Chhattisgarh. The modernization will improve the production of value added products i.e. wire rods. The company is on schedule to complete its 6th Sponge Iron Kiln by March 2019, thereby adding sponge iron production capacity of 2 lakh tonnes per annum along with waste heat power co-generation.
Steel prices have gone up globally since last fortnight, and the company has also increased its product prices by over Rs 3,000 per tonne, which is around 8% higher.
Prakash Industries is an integrated steel and power company. Its products include coal mines, iron ore mines, sponge iron, power, steel melting shop and ferro alloys.
