2019-05-29 Projects Metallurgical Industries Northern India
Prakash Industries Limited has announced updates on its projects.
Modernisation of 4th Rolling Mill
The Company has modernized its 4th Rolling Mill at Raipur, Chhattisgarh in Q4FY2019, to increase the production of value-added products i.e. Wire Rods. This will significantly improve the revenues and profitability of the company.
6th Sponge Iron Kiln with 15MW WHRB
The 5th Sponge Iron Rotary Kiln having capacity of 2 lac tonnes and 15 MW Waste Heat Power co-generation project is complete and the commercial production is likely to commence from the end of July 2019. This will lead to further integration of steel operations and result in cost savings, thereby improving the operating margins of the company.
Captive Iron Ore Mine
The Company's captive Iron Ore Mine in Odisha has now largely received all statutory approvals and the Company is making all-out efforts to operationalize the same very soon. This will significantly reduce the procurement cost of major raw material.