The integrated steel plant of Steel Exchange India Limited (SEIL) on Saturday despatched the first batch of TMT bar finished product by a railway rack.
Divisional Railway Manager N. Kasinath flagged off the rake at the SEIL's plant at Sreeramnagar near Kothavalasa in Vizianagaram district. With this, SEIL became the second company after Visakhapatnam Steel Plant in the secondary sector to send finished steel product by rail wagons from this region.
The first rake-load consisted of 2200 tonnes valued at Rs.7 crore. Additional Divisional Railway Manager C.S. Jeenghar and Divisional Chief Commercial Manager H.L. Luwang handed over the first invoice to the Bhushan Steel, an Orissa-based factory.
SEIL belonging to Vizag Profiles Group had acquired a sick re-rolling mill set up by Gold Star in 1993.
The group is investing Rs.300 crore after acquiring the plant sometime ago. Now it has a production capacity of 2.5 lakh tonnes billets per annum.
In his speech, Mr. Kasinath complimented the company for reviving the plant and launching production.
He said the railway was ready to extend whatever support one needed to promote industrialisation.
SEIL Chairman B. Satish expressed satisfaction over the flagging off of the first rake and said they had plans to increase the production.
The first rake-load consisted of 2200 tonnes valued at Rs.7 crore