Steel Exchange India Limited updates on capex

Steel Exchange India Limited has announced an update on the progress of capital expenditure (capex) to increase the installed capacity at our Integrated Steel Plant (ISP) located at Malliveedu, L. Kota Mandal, Vizianagaram District, Andhra Pradesh.

The company has allocated approximately ₹60 crores from the funds raised against issue of NCDs of the company towards the ongoing capex enhancement initiatives in the year 2023-24 to boost our production capabilities and operational efficiency as given below:

Concast: The Concast (Continuous Casting Machine) has been successfully implemented and is ready for commissioning. This increases our Installed capacity from 2,50,000 MTA to 3,60,000 MTA of Billets.

Rolling Mill: Work on the new 8mm rolling mill is going as per schedule with 50% of completion and is expected to be completed within the next three months. This will increase our overall rebar installed capacity from 2,25,000 MTA to 3,57,000 MTA.

Source : Equity Bulls

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SteelExchangeIndia Capex Update IntegratedSteelPlant CapacityExpansion