Indianconstructionindustry News Alert:SAIL fixes Rs. 1,000cr for ferro-alloy arm.

belegum : SAIL fixes Rs. 1,000cr for ferro-alloy arm The Steel Authority of India (SAIL) has set aside funds worth Rs. 1,000cr for the capacity addition of its subsidiary and ferro-alloy producer Maharashtra Elektrosmelt Limited (MEL). In its expansion plans the company has decided to set up two new furnaces at an outlay of Rs. 500 crore and also for setting up a power plant consisting of two 45mw power generation capacity each at MEL plant involving a similar amount of investment.

According to the Chairman, C S Verma, MEL is currently the country's largest manganese based ferro alloys producer manufacturing a product mix that includes both carbon ferro-manganese (FeMn) and silicon manganese (SiMn).The capacity addition of both the product will go a long way in securing the raw material concerns in the distant future as the on going expansion will meet the entire ferro alloy requirement of the company. Apart from this, SAIL is keen to explore the possibility of setting up facilities to produce ferro-nickel and the process of amalgamation of MEL with SAIL is currently in advance stages and will be e carried out very shortly, he claimed.

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