Indian steelmaker Prakash Industries expects to achieve growth of 10pc in steel production volume in FY2021, as per a recent press release. The company is optimistic looking at the improvement in steel industry amid strong domestic demand and higher realisation.
The company said it achieved its highest steel production at 260,000mt in Q3 FY21 and highest power generation at 3267 lakh units. The company mined 180,000mt of iron ore from its Sirkaguttu mine in Odisha in the same period.
Prakash Industries has integrated steel mills in Indian state of Chhattisgarh with a production capacity of 1.2mn mt of Sponge iron, 1.1mn mt of steel billets, 0.13mn mt of ferro alloys at Champa and 1.1mn mt of finished steel (wire rods, TMT bars, structural) at Raipur. It also has captive iron ore mines in Odisha and Chhattisgarh.