MS Agarwal Foundries to build ₹1,200 crore sponge iron and steel mill in Andhra Pradesh

MS Agarwal Foundries is setting up a ₹1,200 crore backward integration project for sponge iron and a steel rolling mill at Madhavaram, Mantralayam, Andhra Pradesh. The project will double the company's manufacturing capacity to 0.55 million tonnes per annum and is expected to be commissioned by March 2022.

“the new project is being funded through internal accruals and loans and will double the company's manufacturing capacity for sponge iron and steel products.”thehindubusinessline.com

• 1 source
• thehindubusinessline.comMS Agarwal Foundries to set up ₹1200-cr sponge iron plant, steel mill, at Mantralayam - The HinduBusinessLineV Rishi KumarNov 13, 2020

Summarized from public sources; check the original articles before acting on it.