Mistra Dhatu Nigam Limited (MIDHANI) is on an expansion spree. It’s plate mill to make titanium plates, which is getting ready here in the suburbs at a cost of ₹400 crore, and a ₹4,000-crore plant in association with National Aluminium Company (Nalco) in Nellore (A.P.) are awaiting final approvals from Niti Aayog.
The public sector enterprise that specialises in the manufacture of metals and alloys is spending a total of ₹500 crore here to modernise its forges and furnaces. “We are foraging into new areas. Research is on for making 3D printing alloy powders and carbon fibre materials,” said chairman and managing director Dinesh Kumar Liki on Thursday.
He was talking to press persons after singing a memorandum of understanding (MoU) with Spanish multinational Tubacex, a $ 800-million global leader in the manufacture of stainless steel and high alloyed tubular products, for pursuing a collaborative model to develop potential businesses for India and other regions.
The MoU was signed by MIDHANI CMD with Tubacex CEO Jesus Esmoris with the agreement to allow joint development of advanced materials, especially for energy sector like oil and natural gas, towards reduction of carbon dioxide in the air.
Mr. Esmoris said they have come at the right moment to India, the fastest growing market in the world, and both organisations can find synergies since there is a growing demand for special metals and alloys. “This is a historic moment for us. We will soon work on specific proposals. We can share forging technologies and also take our products outside,” said Mr. Liki.
MIDHANI with ₹700 crore turnover and profit of ₹180 crore would have its metal plate making unit ready within a year. Civil work for another plant at Rohtak (Haryana) is under way, he said.
Another JV with National Mineral Development Corporation (NMDC) for mining Tungsten is in progress with site narrowed down to Vietnam. Tungsten powder is not only used for making special alloys having defence and other critical area applications, but is used in all cutting tool industries, the CMD added.
