Despite the challenges of the pandemic and the slowdown in the long steel product market, India’s Maithan Steel will complete the doubling of its billet and rebar production capacity by April 2021, a company official said on Monday, October 12.
The official said that the expansion of its steel mill in the eastern state of West Bengal has been delayed by three months by the national lockdown and, once completed next year, production of billet and rebar will be doubled to 500,000 mt and 400,000 mt per annum, respectively.
It has a second plant also in West Bengal which produces sponge iron.
The official said that the company’s total monthly sales had recovered to around 90 percent of pre-Covid-19 levels but added that the losses suffered during the months of the national lockdown will not be recovered.
