Visa Industries to commence steel project in March

Visa Industries to commence steel project in March

India's Visa Industries will start producing hot metal at its Kalinganagar Industrial complex once the blast furnace comes online in March, according to recent market news. The company will invest Rupees 16 billion ($366 million) in the 1.5 million ton steel plant. The plant will have coke ovens, a power plant, DRI kilns and a steel melting shop. Construction should be completed by 2010. For the project, Visa will purchase 7 million tons of iron ore from Orissa Mining Company.