India’s Godavari Power and Ispat Limited (GPIL) has firmed up capital expenditure to the tune of INR 4 billion ($48 million) to expand its iron ore pellet production capacity and construct a beneficiation plant, a company official said on Friday, February 17.
He said that the company’s pellet production capacity would be ramped up from 2.7 million mt to 5.7 million mt per year by setting up a new 3 million mt per year capacity unit.
At the same time, since its iron ore mines in Chhattisgarh state in central India are being expanded to 6 million mt per year from 2.36 million mt per year, a new beneficiation plant with a capacity of 6 million mt per year is being added at the site, he said.
GPIL is also working on constructing a 1 million mt greenfield steel mill project for which it is awaiting various mandatory approvals from the authorities. This will be in addition to its current expansion of its billet plant from 400,000 mt per year to 500,000 mt per year and the modernization of one of its rolling mills for production of steel strips, galvanizing and ERW pipes.
