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Aditya Birla Group may enter alloy steel production

Aditya Birla Group may enter alloy steel production
PTI
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First Published: Mon, Feb 18 2008. 01 55 PM IST
Updated: Mon, Feb 18 2008. 01 55 PM IST
New Delhi: The country’s second largest non-ferrous producer Aditya Birla Group is likely to enter into alloy steel production with a 2 million tonne per annum plant through its company Vikram Ispat, which is on a forward integration mode.
“The Group is seriously considering the alloy steel project as part of forward integration for Vikram Ispat, a 9 lakh tonne per year gas-based sponge iron producer with plans to expand to 1.5 MT annually,” the Metal Bulletin (MB) reported.
Vikram Ispat is wholly-owned by Grasim Industries and one of the most valuable companies under the Aditya Birla Group and it has the potential to be a major player in the steel sector as it already has iron ore mining operations under the banner of Essel Mining in Orissa.
Meanwhile, Essel Mining is planning to expand its iron ore production to 15 million tonnes by 2012 from the current 8 million tonnes.
The report said Essel Mining has applied for two new mines at Barbil in Orissa and has sought necessary approvals from the Centre and the state government for the same.
Essel has so far disfavoured entering into the steelmaking business and was instead keen on beneficiation and pelletisation plants.
The company tried to acquire 51% stake in another miner Sesa Goa but lost out to Vedanta Resources, the report added.
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First Published: Mon, Feb 18 2008. 01 55 PM IST