Steel Exchange India has announced a capital expenditure (capex) plan to boost the installed capacity at its integrated steel plant (ISP) in Malliveedu, L Kota Mandal, Vizianagaram district, Andhra Pradesh. The increase in capacity will enhance the company’s production capabilities and potentially lead to increased revenue.
The company has allocated roughly Rs 60 crore ($8 million) towards the capex enhancement initiatives scheduled for FY24. This investment, funded through the issue of Non-Convertible Debentures (NCDs) of the company, aims to increase production capabilities and operational efficiency.
The continuous casting machine (concast) has been successfully implemented and is ready for commissioning. This increases its installed capacity from 2,50,000 MTA to 3,60,000 MTA of billets.
Work on the new eight mm rolling mill is going as per schedule with 50 percent of completion, and is expected to be completed within the next three months. This will increase its overall rebar installed capacity from 2,25,000 MTA to 3,57,000 MTA.
