Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Liberty Steel began production at the Adhunik Metaliks and Zion Steel plants in Odisha, India on Thursday. The group had acquired the plant earlier this year in its quest to expand operations in India.


According to media reports, the UK-based steel conglomerate had bought both the plants, which were non-operational at that time for Rs4.25bn ($57.68mn). The company had announced its intentions to begin operations at these plants in September.


Adhunik currently has a blast furnace and an electric arc furnace with a combined capacity to produce 500,000mt per year, along with a 3MW captive power plant to supply electricity to the plant. Zion Steel is a subsidiary of, and operated by Adhunik. 


The steelmaker said it planned to make some more upgrades to the plant as part of its plan to increase its steelmaking capacity in the medium-term and is likely to invest another Rs3bn in the plant over the coming months. 

Leave a Reply

Your email address will not be published.