Ispat Industries set to retract production costs by 25%

Ispat Industries set to retract production costs by 25%

Ispat Industries Ltd. of India is aiming to cut production costs down by 25% until the end of next year, in line with the completion of its expansion plan which is currently in progress. This expansion plan includes building up a plant which will reduce coke consumption significantly and costs by over Rupees 1 billion (around $22 million). Added to that, Ispat Industries will build up an oxygen plant with a daily capacity of 1'206 tons and a sinter plant. The company reported that together with the construction of their new power plant, these plants will lower costs by total Rupess 6.8 billion (around 149.5 million). Meanwhile, company is also considering to acquire and lease iron ore mines in Maharashtra, Goa and Karnataka.