Essar Steel completes expansion to 4.6 mn tonnes

Surat, Dec 7 (UNI) Essar Steel has completed the expansion of steel manufacturing capacity at its Hazira Complex near here, to 4.6 million tonnes, a company communique by the company informed here today.

According to the communique, the expansion project was completed in 18 months with an investment of Rs. 1,975 crore. This is the culmination of Essar Steel's strategy to be a low cost, high quality and value added producer for the niche, high end markets in India and abroad.

The expansion makes Essar Steel India's largest producer of flat steel in the private sector, accounting for close to 23 per cent of the country's flat steel capacity, the communique added.

It also increases the share of value added products in Essar Steel's portfolio to 75 per cent from the existing 45 per cent and will contribute significantly to reduction in imports of critical special grades of steel meant for sophisticated applications.

The company expects a quantum jump in exports of its products and this will consolidate its pre-eminent position as India's largest exporter of flat steel, the communique added.

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