India’s Godavari Power and Ispat Limited (GPIL) has firmed up plans to construct a one million mt per year capacity greenfield steel mill entailing an investment of $745 million, the company said in a statement on Wednesday, March 25.
The company said that the mill will be located at Sarora in the central state of Chhattisgarh.
The new facility will manufacture iron and steel products like heavy and medium structural steel and wire rods and is expected to start production within three and half years.
GPIL, which operates a captive iron ore mine and pellet making facility, also has a 0.5 million mt steel mill in Chhattisgarh, currently operating at 95 percent, the company said.
