dkishore
11-12-2007, 06:58 AM
Ispat Industries said it is investing Rs 1,500 crore to raise its steel manufacturing capacity by 0.6 million tonnes to 3.6 million tonnes.
The investment will raise the capacity from 3 million tonnes to 3.6 million tonnes, along with other major ancillary facilities, an Ispat spokesman said here.
The clarification came in the wake of company's Senior Vice-President Atul Kumar's remarks on Friday that it proposes to invest Rs 10,000 to Rs 25,000 crore for expansion of capacity from 3 to 5 million tonnes at its facility in Maharashtra.
The spokesman said though the company plans to increase its capacities further, nothing has been finalised as yet.
"While our long-term vision is to increase capacities further, we have not firmed up any such capital expenditure plans," the spokesman added
The investment will raise the capacity from 3 million tonnes to 3.6 million tonnes, along with other major ancillary facilities, an Ispat spokesman said here.
The clarification came in the wake of company's Senior Vice-President Atul Kumar's remarks on Friday that it proposes to invest Rs 10,000 to Rs 25,000 crore for expansion of capacity from 3 to 5 million tonnes at its facility in Maharashtra.
The spokesman said though the company plans to increase its capacities further, nothing has been finalised as yet.
"While our long-term vision is to increase capacities further, we have not firmed up any such capital expenditure plans," the spokesman added