Electrosteel Castings to set up integrated plant
PM News Bureau
Kolkata-based Electrosteel Castings Ltd, a water
infrastructure company which provides techno-economic solutions in water supply
and sewerage systems, has floated a new subsidiary, Electrosteel Integrated Ltd,
to set up a 1.3-mtpa integrated steel plant in Jharkhand. The proposed plant
will also manufacture DI (ductile iron) pipes. The total estimated cost of the
project is Rs 5,000 crore.
ECL has already received allocation of Parbatpur coal block in Jharia coalfield
area for mining of coal for captive consumption.
The equity component of the project will be around Rs 1,239 crore, out of which
ECL's share is Rs 500 crore which has been cleared by the board. The equity
investment will be taken up in phases for two-and-a-half years, subject to
Other infrastructure related works are in progress. The benefit of the captive
mine is expected to accrue from 2008-09.
Besides, to counter the rise in the price of iron ore, a major input for
manufacture of DI pipes, ECL will install a sinter plant. The plant will use
iron ore fines instead of the costly lump ore. The plant is expected to
commission by December this year.
ECL has successfully implemented the stamp charging system at its coke oven
plant for producing metallurgical coke at lower cost. The company has also been
allotted an iron ore mine in Kodolibad, Jharkhand, and infrastructure facilities
are being developed.
Contact: Electrosteel Castings Limited, 19, Camac Street, Kolkata, West
Bengal 700017. Tel: 033-22839990; Fax: 033 22894336 to 40
[14 May 2007]