SAIL proposes to invest about Rs 1,000 crore in expanding the capacity of its subsidiary and ferro-alloy producer Maharashtra Elektrosmelt Ltd (MEL).The plan includes setting up of two new furnaces at an outlay Rs 500 crore besides setting up a power plant consisting of two 45 MW at MEL at an investment of Rs 500 crore.
MEL is the country's largest manganese-based ferro-alloys producer with a product mix that includes both carbon ferro-manganese (FeMn) and silicon manganese (SiMn).At present, MEL meets SAIL's entire requirement of FeMn, one of the key ingredients to produce steel. About a third of SiMn, required by SAIL is met by MEL. Higher ferro-alloy production by MEL would go a long way in meeting the raw material security concerns of SAIL.
Company Name | CMP |
---|---|
JSW Steel | 913.65 |
Tata Steel | 174.25 |
SAIL | 166.20 |
Jindal Stainless | 805.40 |
Jindal Saw | 555.15 |
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