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Dhruvdesh Metasteel plans expansion of Hirebaganal unit

Project Location : Hirebagnal, Koppal district, Karnataka

Dhruvdesh Metasteel, which manufactures sponge iron is planning to expand capacity with an investment of Rs.1200 million. The plant is spread over an area of 65 acre at Hirebaganal village in Koppal district of Karnataka. The project involves doubling its sponge iron capacity to 60,000 tpa by setting up a up a new manufacturing unit with a capacity to produce 40,000 tonne of high-end steel bars and structural steel for construction industry. The expansion programme includes setting up of a steel melt shop, rolling mill and a 8 MW power plant for captive consumption. The company is in discussion with banks and financial institutions to raise Rs..800 million to fund its expansion while the remaining Rs..400 million will be pumped in by the promoters. The company has been allotted a mining lease by the Karnataka government for 20 years, to extract iron ore from mine spread over 116 ha at Chikkanayakanahalli in Tumkur district

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