Ispat Industries to expand business, proposes new plants

With reference to the earlier announcement dated March 02, 2007 regarding Outcome of Board Meeting, Ispat Industries Ltd has announced that the proposed issue of Foreign Currency Notes aggregating to USD 500 Million is being made for financing the following projects planned to be undertaken by the Company.

1. 1 Million Tons per annum recovery type Coke Oven Plant to be located at Dolvi, Dist. Raigad, Maharashtra.

2. 4.5 Million Tons per annum Pellet Plant to be located at Vishakapatnam, Andhra Pradesh.

3. Enhancement of capacity of the Company's Hot Rolled Coil Steel Plant at Dolvi, Dist. Raigad, Maharashtra, from existing 3 Million Tons per annum to 3.6 Million Tons per annum alongwith auxiliary facilities.

4. Addition of a 0.65 Million Tons per annum Blast Furnace at Dolvi, Dist. Raigad, Maharashtra.

Source : Equity Bulls

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