Welspun Corp commissions new plant at Anjar, Gujarat; Stock sheds 1%

22 Jul 2022 , 10:43 AM

Welspun Corp Ltd has announced the commissioning of its state-of-the-art Blast Furnace and Sinter plant, and TMT Bars manufacturing facility at Anjar, Cujarat through its wholly owned subsidiaries.

Blast Furnace and Sinter Plant:

The Blast Furnace can produce ~500,000 MT of Hot Metal per annum. This will primarily be used for manufacturing Pig Iron and Ductile Iron (DI) Pipes. The trial production for DI pipes has also started and the facility has recently received BIS certification, the company said.

Besides a 400,000 MT per annum capacity DI pipe plant, this facility is equipped with the latest cutting-edge technology, and will include Blast Furnace, Sinter Plant, PCI and Oxygen Plant Coke Oven.

TMT Bars manufacturing facility:

The present TMT bar manufacturing facility has a capacity of around 350,000 MT per annum. The Company has an existing manufacturing set-up of BIS Certified Steel Billets and Direct Reduced Iron which will be used as inputs for the manufacture of TMT bars.

B. K. Goenka, Chairman of Welspun Group commented, “I am delighted to see these facilities come on stream. It is part of our strategic vision at Welspun, in which we aim to grow and expand the business of Welspun Corp."

He further added, "Despite facing unprecedented challenges, the Blast Furnace and the TMT bar facility have been commissioned in due time against two severe waves of Covid and extreme pressure on volatile commodity prices conditions."

At around 10:42 AM, Welspun Corp was trading at Rs208.90 per share down by Rs2.3 or 1.09% from its previous closing of Rs211.20 per sahare on the BSE.