Global refractory making major Vesuvius Group will invest an estimated $61 million in its Indian arm to expand production and manufacturing bases across the country, a company official said on Thursday, February 16.
“We are expanding our plants in India supplying technological driven products to steel and foundry industries with our sales turnover crossing the $207 million per year mark,” Vesuvius Group chief executive Patrick Andre said.
Vesuvius India operates plants across the country at Kolkata, Vishakhapatnam, Pune, Pondicherry and Mehsana.
Andre inaugurated the expanded capacity of the Kolkata plant which will see a 35 percent increase in monthly refractory product output.
“With so many new steel plants coming up and existing ones expanding capacity, the demand for black refractories produced by us is on a sharp rise. Tata Steel, JSW, ArcelorMittal, SAIL, and many other steel giants have been using our products for decades,” Biswadip Gupta, chairman of Vesuvius India, said.