Adhunik to build new integrated steel plant

Adhunik to build new integrated steel plant

According to recent news in the market, Indian company Adhunik Corporation Ltd is planning to build a new integrated steel plant in Orissa. The establishment of the new plant will cost Rupees 3.2 billion ($70.3 million). The production capacity of the plant is scheduled to be 250'000 tons per annum at first phase. Moreover, depending on the demand, the capacity may be increased, a company official states. The officials from company state that the new plant will start full operation in March 2005, adding that the sponge iron unit of the plant has already started operations at a monthly production capacity of 12'000 tons.