BWI: Uttam Galva Group to Invest Rs. 1096 crore in 5 LTPA Pig Iron Plant

Press release from Business Wire India
Source: Uttam Galva Steels Limited
Tuesday, February 03, 2009 04:42 PM IST (11:12 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Financial Analyst, Heavy industries, Stock exchanges; Technology
Release no: 19129
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Uttam Galva Group to Invest Rs. 1096 crore in 5 LTPA Pig Iron Plant


Mumbai, Maharashtra, India, Tuesday, February 03, 2009 -- (Business Wire India) -- Uttam Galva Metallics Ltd. (UGML), part of the Rs. 2,000 crore Uttam Galva Group; India's largest single site standalone manufacturer-exporter of value added steel products; has signed a Memorandum of Understanding (MoU) with Government of Maharashtra for setting up a project to manufacture half a million tones of Pig Iron.

The plant located at Wardha, Maharashtra will see an investment of Rs. 1096 crore. The state-of-the-art plant will be an integrated facility for steel making complete with coke oven and sinter plant. The project will also generate employment opportunity for close to 380 people.

Announcing the project, Mr. Rajinder Miglani, Chairman, UGML said "We are confident that this backward integration project will be the most sophisticated pig iron facility in the country and will be implemented in record time and set new benchmarks for the industry". He also added, "It is a great opportunity for us. The project has been made possible with the help of Government of Maharashtra, which provides great support and an encouraging environment for companies to operate. With continued support & encouragement from the Maharashtra Government we hope to grow this endeavour exponentially in the coming years."


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