Visa Steel capacity reaches 3 lakh tonnes pa

New Delhi, Nov 2: Visa Steel Ltd has commissioned an additional capacity of 1,00,000 tonnes per annum of Coke Ovens, taking the total commissioned capacity to 3,00,000 tonnes per year.

A part of the 4,00,000 tpa stamp charged Coke Oven plant in Orissa was commissioned early this year. The first 1,00,000 tpa had been commissioned during end-March 2006 and the balance 300,000 tpa was expected to be commissioned in phases by September 2006.

The company is planning to integrate backwards into mining of Iron Ore, Chrome Ore and Coal to de-risk itself from volatility in raw material prices. Iron Ore is currently being sourced from OMC, OMDC and Sesa Goa until commencement of its own mining operations.

It is also developing a Chrome Ore deposit through its subsidiary company, Ghotaringa Minerals Ltd.

The company had recently entered the capital markets through an IPO and raised Rs 199.50 crore to finance a part of the capital expenditure to expand into an Integrated 0.5 million TPA Special and Stainless Steel Plant.

UNI