Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
Godawari Power & Ispat has approved a major expansion plan with a new 1.00 MTPA integrated steel plant in Sarora, Tilda, Raipur, Chhattisgarh. The proposed project, estimated at around Rs 7,000 crore, will produce heavy and medium section structural steel along with wire rods, strengthening the company’s presence in India’s fast-growing steel market. The company plans to fund the project through a mix of debt and internal accruals in a 1:1 ratio. With its existing 0.5 MTPA capacity at Siltara operating above 95 percent utilisation, the new plant reflects GPIL’s confidence in rising domestic demand for structural steel. The capacity addition is tentatively targeted for completion in three years and six months.
Also Read : Steel industry embraces startups for decarbonisation and sustainability HRC prices in India have increased by up to ₹1,200 per tonne.
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