Refractory maker Vesuvius India Limited, part of the UK-based Vesuvius Group will invest an estimated $120 million over the next few years to expand capacities and meet rising demand in the Indian steel industry, a company official said on Monday, April 22.
Vesuvius India has also inaugurated a new mould flux manufacturing plant at Vishakapatnam. The facility is designed to meet the increased demand for flux, a vital component for the continuous casting process at steel plants, the official said.
The flux manufacturing plant in Visakhapatnam is the first of three new facilities expected to be operational in 2024, the official said. “India has always been a strategic market for the group. The manufacturing capabilities in India will enhance our competitive position in the country,” he added.