AISL plans to set up Rs 4,500-crore steel plant at Koppal
Aaress Iron and Steel (AISL), has made announcement that the company envisages to pump Rs 4,500 crore for building its first integrated steel plant at Koppal, in northern Karnataka.
The project will be implemented in two phases and the company aims to start production by mid-2010 with an initial capacity of 1.2 million tonnes annually.
According to the sources, the facility, spread across 1,100 acres of land, will generate special carbon and alloy steel grades to ply to the automobile industry and other high-value added engineering sections.
The company officials said that the funding for the project will be through borrowings from several banks.
Furthermore, AISL plans to enhance the annual capacity of the plant to 5 million tonnes by 2012. The additional capacity is for producing hot-rolled flat products.
Aaress Iron and Steel (AISL), is a part of iron ore mining major Baldota Group.