Monnet Ispat & Energy has received approval for expansion of capacity of Pellet Plant of the Company located at Raigarh, Chhattisgarh, from existing 2.00 MTPA to 2.50 MTPA by incurring capital expenditure of Rs 21 crore. The project will be financed through borrowing from banks. The project is expected to be completed in about 10 to 12 months. The Board of Directors of the Company at its meeting held on May 17, 2019 has approved the same.
The existing capacity utilization is 90% and the proposed expansion of the production capacity of the Pellet Plant is expected to help the Company to reduce the cost of pellet production per ton, at Raigarh plant and to improve sales volume.
Monnet Ispat and Energy is a holding company. The company is engaged in the business of conducting coal mining operations and manufacturing coal-based sponge iron and various other steel/iron-based products.
