Sponge iron units in India plan capacity expansion

Sponge iron units in India plan capacity expansion

According to recent industry news, Indian sponge iron producers are planning to expand their capacities with the purpose of meeting rising demand worldwide. When statistics are examined, India has become the leading producer of sponge iron in the world in 2003 with 7.7 million tons. However, that demand is high encourages Indian producers to expand their capacities. For instance, Jindal Steel and Power (JSPL), a coal based sponge iron producer, considers expanding its capacity by 660'000 tons to 1.31 million tons by the end of fiscal 2004-2005. The other Indian sponge iron producers Essar Steel, Vikram Ispat, Ispat Industries, Monnet Ispat and Tata Sponge Iron (TSIL) also have attempted to expand their capacities in fiscal 2003-2004.