power generation etc have been commissioned
Give us an update on the firm’s Rs 2,100-crore capex plans.
The expansion is done, except for one sinter plant, which will be commissioned by August end. The coal mines have been integrated. All the steel-making facilities, power generation etc have been commissioned and the results are beginning to show. We have taken up another Rs 1,200-crore plan over the next 30 months. We will focus on reducing cost. The expansion will help us reduce production cost by nearly Rs 3,000 a tonne.
What is you level of integration that is serving your steel plants?
With coal and iron ore mines at our disposal, we are fully integrated to produce steel up to 1 million tonne. Our raw material is secured for the next 30 years.
Besides steel, you are also into value-added products, how is your rope business faring? Has the European crisis hit sales?
The wire rope business is stable. We have seen bit of a slowdown is in the oil sector because of what’s happening in the US. Due to the oil spill, drilling activity has come down. The domestic market is strong, and South East Asia, Australia, Africa are also fairly strong markets. The company has performed reasonably in the business, except in the oil sector. This should stabilise by the second half of the year.
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