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, Gujarat through its wholly owned subsidiaries.
Blast Furnace and Sinter Plant:
The Blast Furnace can produce approximately 500,000 MT of Hot Metal per annum which 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.
This integrated complex is equipped with the latest cutting-edge technology, and will include Blast Furnace, Sinter Plant, PCI & Oxygen Plant, Coke Oven, besides a 400,000 MT per annum capacity DI pipe plant.
TMT Bars manufacturing facility:
The TMT bar manufacturing facility has a capacity of 350,000 MT per annum. WCL 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.
Commenting on this, Mr. B. K. Goenka, Chairman, Weispun Group said, "I am delighted to see these facilities come on stream. It is part of our strategic vision at Weispun, in which we aim to grow and expand the business of Welspun Corp. The Blast Furnace and the TMT bar facility have been commissioned in record time despite facing unprecedented challenges, including two severe waves of the pandemic and extremely volatile commodity prices.
I compliment the team who stayed on course with their purpose and delivered these state-of-theart facilities. The DI plant will significantly contribute to our honorable Prime Minister's vision of 'Har Ghar, Nal Se Jal' which makes access to water a priority for households across India and will be a milestone step towards building an 'Atmariirbhar Bharat'. Moreover, the TMT bar facility will be step towards the development & modernising the infrastructure in the country."
Mr. Vipul Mathur, Managing Director and Chief Executive Officer, Welspun Corp Limited added, "DI pipes and TMT bars are a natural fit for the expansion of our product portfolio and have good synergies with our existing business. We are keen to participate and contribute to India's growth story. The plants with best in class equipment and technology, world class processes and quality standards will further strengthen our efforts in providing access to safe, reliable and clean drinking water for all, and in developing our nation's infrastructure."
Shares of Welspun Corp Limited was last trading in BSE at Rs. 211.20 as compared to the previous close of Rs. 212.50. The total number of shares traded during the day was 68833 in over 1512 trades.
The stock hit an intraday high of Rs. 213.90 and intraday low of 209.45. The net turnover during the day was Rs. 14576013.00.