TISCO to establish sponge iron plant to expand capacity
According to recent news in the market, Indian steel producer Tata Iron and Steel Corporation (TISCO) is planning to build a
sponge iron plant under the scope of “Vision 2010” project to increase its annual capacity of 4 million tons to 15 million tons per annum. The new plant, which will produce 300'000 tons of
sponge iron per annum is scheduled to be completed in two years' time. Rupees 2 billion ($44 million) will be invested for the project. Moreover, TISCO is reported to be seeking partners for its projects.
As previously reported by SteelOrbis, TISCO was planning to increase its capacity to 15 million tons gradually. In the first phase, the capacity is scheduled to be increased to 7 million tons by 2007, then to 15 million tons by 2010.