Yeshashvi Steels & Alloys is planning to expand its Sponge Iron Plant (50 TPD to 300 TPD) alongwith installation of Induction Furnace (10 T), Rolling Mill (30 T) and Captive Power Plant (6 MW) at Halkundi in Bellary district of Karnataka. The project involves increasing the capacity of Sponge Iron Plant 50 TPD to 300 TPD, Induction furnace 10 T, Rolling Mill 30 T and Captive power plant 6 MW. The project is estimated to cost Rs. 550 million. As of March 2010, the project has obtained statutory clearances.
NMDC and Severstal (the Russian steel major) has set up a 50:50 joint venture to set up a 3 million tpa steel plant in Bellary district of Karnataka. The project cost is estimated at USD 4 billion and is likely to be commissioned by 2017. It will financed by the partners in the debt:equity ratio of 70:30. Severstal will bring latest steel making technology and coking coal linkage while NMDC will bring iron ore linkage for the project.
|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