UK-based global industrial leader GFG Alliance has announced that its subsidiary UK-based Liberty Steel Group has restarted the first phase of production at Adhunik Metaliks Ltd and Zion Steel (Adhunik) in India. The restart has been achieved within six months after the preparations for steelmaking made following the acquisitions in February this year.
The plant has a sponge iron facility, a blast furnace and electric arc furnace steel making capability with 500,000 mt capacity, a ferroalloy plant and a captive power plant. Adhunik produces alloy steel products for the automotive, energy, engineering and oil and gas sectors besides participating in the commodity market for sponge iron and billets.
“Adhunik is on its way to becoming fully operational. I look forward to working together to create a sustainable Greensteel operation in India. We aim to integrate the business into the wider Liberty Steel Group family in the near future,” Sanjeev Gupta, GFG Alliance executive chairman, said.