Ispat to expand steel capacity in Maharashtra

Indian steelmaker Ispat Industries has announced that it has signed an initial agreement with the Maharashtra state government, for Rupees 20-billion ($449 million) project to expand steel capacity from three million metric tons to five million metric tons. The planned capacity expansion at the Dolvi steel plant in Maharashtra is expected to be completed in one-and-a-half years. In the longer term, Ispat may also invest another Rupees 60 billion ($1.3 billion) in order to double its capacity to 10 million metric tons.