The Board of Directors of Gallantt Ispat Limited met and approved key business initiatives aimed at expanding the company’s production capacity. The planned expansion is focused on the company’s Integrated Steel Plants, which include the integration of Sponge Iron, Billets, Pellets, Captive Power Plants, and Rolling Mill Units. The expansions are set to take place at Gallantt Ispat’s Gorakhpur Unit, located in Uttar Pradesh, and are expected to enhance the company’s production efficiency and sustainability.
Key Highlights of the Expansion
The approved proposal outlines the following capacity expansions across various units at Gallantt Ispat:
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Steel Billets: The existing capacity of 2,72,250 MT will be increased to 8,00,250 MT.
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Sponge Iron: The capacity will rise from 5,44,500 MT to 5,60,000 MT with an additional 1,15,500 MT.
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Pellets: The pellet production capacity will increase from 7,92,000 MT to 9,90,000 MT with an added 1,98,000 MT.
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Captive Power Plant: The thermal and waste heat recovery boiler capacity will grow from 78 MW to 100 MW, with an addition of 22 MW.
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Captive Solar Power Plant: A new solar power plant will be set up with a proposed capacity of 100 MW.
Financial Details
The total capital expenditure (Capex) for the expansion and the setup of the Captive Solar Power Plant has been approved at Rs. 1,014.98 crores. Importantly, the entire funding for this project will be sourced from internal accruals, with no debt borrowing involved.
Project Timeline
As the expansion of these facilities will be carried out under a brownfield project approach, the company has scheduled the completion of the entire project by March 2026. This timeline ensures that the company can meet the increased demand for its products while maintaining operational efficiency.
