Ispat Industries to expand production
Indian steelmaker Ispat Industries Ltd. announced that it will invest around Rupees 11 billion ($249 million) to expand capacity at its plants in Maharashtra, India. The investments will be financed by internal accruals and external borrowings. It is reported that the total capacity of the plants will be increased from 2.4 million metric tons to 3.4 million metric tons. The expansion also includes commissioning a 1'260 metric tons per day capacity oxygen plant and a 2 million metric tons annual capacity sinter plant.