Ispat Industries to increase HR coil output

Ispat Industries to increase HR coil output

Indian steel producer Ispat Industries has recently announced that it is planning to increase hot rolled coil production to 3 million tons by the end of 2004-05 fiscal year and to establish a coal preparation and injection plant, a sinter plant and an oxygen plant. The company expects to report earnings of Rupees 56 billion ($1.2 billion) in the current fiscal year and the Rupees 10 billion ($218 million) part is forecasted to be earned from exports. The construction of the coal preparation and injection plant will start at the end of this month. This plant will enable the company to avoid high-cost metallurgical coke. The construction of the sinter plant and the oxygen plant will start in March 2005.