Steel cos to invest in pelletisation units

Mining and steel companies will set up pelletisation units at a total cost of around Rs 8,000 crore in the next four years to process low-grade iron ore into pellets following the restrictions on iron ore exports. Till recently, around 100 mn tonne of low-grade iron ore was exported in a year - the bulk to China. The domestic steel-making industry prefers not to use this variety. Therefore, steel and mining majors such as JSW Steel, Essar Steel, Ispat Industries and NMDC have decided to invest in making pellets to feed steel plants. They will create a total capacity of 40 mn tonne a year in the next four years.Contact: Essar Steel Ltd. Tel: 022-2495 0606.  E-mail: steel@essar.com Website: www. essar.com