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Essar Steel Completes Capacity Expansion at HaziraThe Essar Steel Hazira announced doubling of its capacity to 10 Mt/a.
This expansion makes the Hazira Steel Complex the largest single location flat steel producer in India and the 4th largest single location flat steel producer globally. This is in line with the Vision 2020 that envisages taking India’s steel capacity to 200 Mt/a. Essar has three iron making technologies – HBI/DRI, Corex and Blast Furnace. These technologies give them flexibility in their raw material inputs, be it iron ore or energy, in the following ways: The complex uses varying grades of iron ore inputs, including lump ore, fines, slimes sinter and pellets. The complex uses different energy sources, including natural gas, coking coal, coke, corex gas, blast furnace gas and non-coking coal. Raw material costs are optimized to deliver the best value to the customer. Essar Steel has invested over INR 37500 million in the business including the recent project expansion. The industry standard for steelmaking is USD 1 billion for 1 Mt of production. Essar Steel incurred a cost of just USD 750 per tonne of steel, which in addition to steelmaking also includes beneficiation, pelletization and downstream capabilities. On a like-to-like basis, Essar Steel has managed to create this asset at a significantly low capital cost. In some cases, the costs are lower than other steelmakers by as much as 50 % (1/2012). |
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