SEIL to expand steel production capacity for Rs 1,500 cr

Steel Exchange of India (SEIL) will pump in around Rs 1,500 crore over the next five years to increase its production capacity to 1 mn tonne by 2015. It proposes to set up a 7 lakh tonne capacity blast furnace, basix oxygen furnace and electric arc furnace plant to produce special quality steels by 2015. The facility will come up at Vizianagaram district of Andhra Pradesh. Apart from this, a 1.2 mn tonne pelletisation plant to produce high-grade iron ore pellets will come up at the same location. SEIL is also setting up a 60 MW power plant which will be ready by 2012. Contact: Steel Exchange of India. Website: www.steelexchangeindia.com