February 25, 2003
Board approves 3rd kiln
In its meeting held on 25th February 2003, the Board of Directors of Tata Sponge Iron Limited has decided to expand the sponge iron manufacturing capacity of the plant by installing a third kiln having an annual capacity of 150,000 MT, at an estimated expenditure of Rs.67 crore. The project will be financed by borrowings and use of retained earnings.
This expansion will see the plant capacity being increased to 390,000 MT per year from the present 240,000 MT and will help the company to further consolidate its stature as the largest supplier of quality sponge iron in the Eastern India. The plant has already been termed as the producer of best quality sponge iron by the consumers, vide the feedback survey conducted by an external agency.