26
Jul
13:53
Tata Sponge to build longs plant
Indian DRI producer Tata Sponge Iron Limited has said it plans to invest in a 1.5 million tonne/year longs product steelworks. The company says it can fund most of the investment with its own cash on hand and the new plant could multiply its turnover by five, Kallanish notes.
The phased development of the plant was approved in principle last week by the company's board of directors. Tata Sponge currently produces around 400,000 tonnes/year of DRI. …
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