Public sector alloys maker for defence and other core sectors, Mishra Dhatu Nigam Limited (Midhani) has firmed up plans to foray into aeronautics and power sectors from the next year.
The State-owned Midhani has already embarked on an expansion programme at an estimated Rs. 700 crore and it will be in a position to commence supply of special alloys, though in a small measure, to the two key sectors after the completion of the first phase of expansion next year. The company was accordingly procuring critical equipment like melting furnace, costing around Rs. 200 crore, which would be in place before the current fiscal, Midhani chairman and managing director M. Narayana Rao told ‘The Hindu’.
The next phase involving the procurement of final equipment, including a plate rolling mill costing around Rs. 500 crore, would be taken up during the second half of the next financial year. Midhani received funding for the expansion from the Defence Ministry for the plate rolling mill as it was intended to meet requirements of the sector. Midhani recorded a turnover of Rs 500 crore during the last fiscal and was aiming to achieve sales of around Rs. 600 crore during the current fiscal. The public sector unit currently has an order book of Rs. 1,000 crore from defence and space sectors.
Mr. Rao said the defence and strategic applications would require an estimated 4,000 tonne of special alloys, capable of withstanding high temperatures, annually. Midhani had developed a special nickel-based super alloy for power sector that could be used in the manufacture of boilers and turbines.
The PSU has already embarked on an expansion plan It will supply special alloys to two key sectors after expansion
The PSU has already embarked on an expansion plan
It will supply special alloys to two key sectors after expansion