In a bid to enter into backward integration, steel producer Southern Ispat & Energy is planning to set up a pelletisation plant with 1.2 million tonnes capacity at Chattarpur in Madhya Pradesh. In this regard, the company will invest Rs 300 crore and the plant is set to come on stream by April 2014. The company will invest Rs 150 crore in the first phase and the remaining investment would be done in the second phase.
The company has already acquired 100 acres of land in Chattarpur (MP) and expected to start its beneficiation and pelletisation process by April 2014.
