Mumbai: McNally Bharat Engineering Company on Tuesday said it has secured two orders worth Rs692.46 crore from Steel Authority of India Ltd for expansion of its plants.
The company said it has bagged an order of Rs621.88 crore from SAIL for expansion of IISCO Steel Plant. The scope of the order includes supplying raw material handling system to SAIL, McNally Bharat said in a filing to the Bombay Stock Exchange.
McNally further informed it has secured another order of Rs70.58 crore from SAIL. The order would be for Bokaro Steel Plant’s 7 MT expansion for its coupled pickling line tandem cold mill.
As per information available on IISCO Steel Plant’s website, it has a capacity to produce 4.26 lakh tonnes of saleable steel and 2.54 lakh tonnes of pig iron annually.
Kolkata-based McNally Bharat is engaged in providing turnkey solutions in the areas of power, steel, and civic and industrial water supply.
The shares of the company were trading at Rs 216 at the BSE in mid-session, up 1.41% from the previous close.