MSL puts steel plants on hold

Maharashtra Seamless Ltd (MSL) has deferred its plans to set up two separate steel plants by almost two years due to bleak market conditions.

MSL had planned to set up two five lakh tonne steel plants, one each in Maharashtra and Jharkhand with an investment of around Rs 3,000 crore, following the allotment of Gondkhari coal block (Maharashtra) along with two other firms last year.

Meanwhile, expansion work at the company's seamless pipe-making facility at Raigad is on track. MSL is expected to increase the capacity of the plant from the current 3.5 to five lakh tonne over the next three years. It is also relocating a two lakh tonne seamless pipe plant acquired two years ago in Romania with an investment of Rs 300 crore.


Source : ProjectsToday

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