Vesuvius India, a subsidiary of the UK-based refractory maker Vesuvius Group, announced on Thursday its intention to invest approximately Rs 10 billion in the country over the coming years. Patrick Andre, the Chief Executive of Vesuvius Group, stated that, considering the growth prospects in India, the amount of investment in the country would likely approach Rs 10 billion within the next few years.
It was revealed by the Kolkata-based Vesuvius India that they had also inaugurated a new plant for manufacturing mould flux in Vishakapatnam. According to the company's statement, this facility has been established to cater to the growing demand for flux, a crucial element in the continuous casting process at steel plants.