Ispat Industries is planning to invest Rupees 21 billion (approx. $522 million) by 2009 in order to promote continuous profitability and growth. The investment includes a one million ton-capacity expansion of the coke oven plant at Dolvi in Maharashtra, and a 45 million ton-annual capacity pellet production facility at Visakhapatnam.
For the quarter ended June 30, 2007, the company turned a profit of Rupees 83.7 million ($2 million) after taxes, compared to a loss of Rupees 1.11 billion (approx. $27.69 million) for the corresponding quarter last year.
Ispat Industries is the largest private sector producer of hot rolled coils in India.