India-based Shree Uttam to set up HRC plant

Indian steelmaker Shree Uttam Steel and Power Ltd (SUSPL) has announced that it has signed a memorandum of understanding with the government of the western Indian state of Maharashtra to set up a new steel plant with an annual production capacity of 1.5 million mt of hot rolled coil (HRC) and a 40 MW captive power plant in the Sindhudurg district in Maharashtra. The new steel plant will create 2,500 jobs.
 
As previously reported by SteelOrbis, in January this year Shree Uttam received approval from the Competition Commission of India (CCI) for its proposed merger with Uttam Galva Steels Limited (UGSL).