The board of directors of India-based Godvari Power and Ispat Limited (GPIL) has approved capital expenditure of $723 million to construct a greenfield steel mill and expand the company’s pellet making plant, a company statement said on Thursday, February 8.
The company investment will be for a greenfield steel mill with a capacity of 2 million mt per year and for expansion of the pellet plant capacity by 3 million mt to 4.7 million mt per year, the statement said.