29
Mar
00:00
India state-owned JV to carry out $900m steel expansion: reports
Indian state-owned joint venture Neelachal Ispat Nigam (NINL) plans to expand its hot metal production capacity to 5 million tonnes/year from 1.1m t/y with an INR 5,600 crore ($895.8m) investment, according to local press reports.
The expansion will be carried out in two phases, the first of which will double Jajpur-based NINL’s capability to 2.2m t/y. Around 30% of the expansion financing is set to be raised through equity with the balance covere…
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Very good overview of the weekly steel market.
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