Kolkata, May 7 (UNI) IFGL Refractories Ltd would set up facilities for manufacture of continuous casting refractories at Kandla SEZ in Gujarat with an estimated capital outlay of Rs 50 crore, IFGL Director and CEO Pradeep Bajoria said today.
Briefing mediapersons on the company's annual results for the last fiscal, Mr Bajoria said the project would be completed by September 2009 which would cater exclusively to the export market.
Mr Bajoria said during 2007-08, IFGL's export crossed Rs 100 crore for the first time and the company had been the recipient of CAPEXIL's special export award for five consecutive years.
'' IFGL is directly linked to the steel industry and is dedicated to clean steel. Being focussed on steel industry has been advantageous to IFGL as the demand for steel is growing nearly 13 per cent and this is likely to be sustained, '' he observed.
Mr Bajoria informed that during 2007-08, IFGL further integrated its facilities in Brazil, China, the UK and the USA and took steps for optimal utilisation of capacities and resources available.
He also said that commercial production at facilities set up in Tianjin, China, for manufacture of dart refractories for slag control had also started and was operating satisfactorily.
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