Incorporated in 1990, Midwest Iron & Steel Company (MISL) manufactures and markets pig iron. The company has been promoted by N R Pinna. M P Murthi is the chairman and N R Pinna is the managing director. Its manufacturing unit is located in the Srikakulam district in Andhra Pradesh.
The company came out with a public issue in May '94 to part-finance the project of setting up manufacturing facilites (90,000 tpa) for foundry-grade pig iron by the mini-blast furnace (MBF) route. The project was earlier appraised at 75,000 tpa. However, by re-sizing the capacity of the MBF to 215 cu mtr from 175 cu mtr, the capacity has been increased to 90,000 tpa.
MISL has entered into an agreement with Tata Korf Engineering Services for technical know-how and consultancy services for the project. The finished products from the foundries -- iron castings of different grades like grey cast iron, malleable iron, white iron, etc -- find extensive applications in the engineering and automobile industry. The company's clientele includes Ashok Leyland, Brakes India, Lakshmi Machine Works, GSIC and a number of medium- and small-scale foundries. MISL diversified in 1995 to manufacture slag cement generated by the mini blast furnace route.
In 1995-96, the company came up with an expansion plan of increasing the production capacity from 90,000 to 1,10,000 tpa at an estimated cost of Rs 3.80 cr. It has also proposed for setting up a mini blast furnace complex in Keonjhar district, Orissa, to produce about 1,50,000 tpa foundry grade pig iron with enough provision to convert it, at a later stage, into a mini integrated steel complex at an estimated cost of Rs 80 cr including a 5-MW captive power plant. Its project for Slag Cement (cap:50,000 tpa) is under implementation.