Hanumant Alloys' Rs. 11 Crore Investment Sparks 41,250 Tonnes of Progress in Chhattisgarh

Hanumant Alloys India Private Limited is investing Rs 11 crores in a sponge iron plant at Hardikala, Bilaspur, Chhattisgarh. Direct Reduced Iron (DRI) is used to create 41,250 tonnes of sponge iron per year at this green-field operation. The business intends to fulfill rising steel industry sponge iron demand, possibly reducing imports and costs.

The Indian steel industry is expected to increase 5.8% from 2023 to 2028, and the project will create jobs throughout development and operation. However, the construction timeframe and operational start date are unknown.

Hanumant Alloys India Private Limited may provide project updates, or Chhattisgarh steel industry news and press releases can be read. Understanding the DRI process technology and raw material procurement strategy would reveal the project's efficiency and environmental effect. This project's impact on the local steel industry may be determined by studying Chhattisgarh's sponge iron production capacity and demand.

As on January, 2024. Project is pending approval. Waiting for government clearances. No further details determined.

News by Rahul Yelligetti