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Uttam Galva Metallics commissions blast furnace at Wardha steel Complex
Industry News- Sep 14,22
The new blast furnace has a capacity of 700,000 MT of hot metal per annum, which will largely be utilised to supply the hot metal and pig iron requirements at the adjacent steelmaking facilities of Uttam Value Steels.
Mumbai
Uttam Galva Metallics Ltd (UGML) has successfully commissioned the Blast Furnace No 2 (BF2) at the Wardha Steel Complex located near Nagpur, Maharashtra. BF2 has a capacity of 700,000 MT of hot metal per annum (0.7 mtpa), which will largely be utilised to supply the hot metal and pig iron requirements at the adjacent steelmaking facilities of Uttam Value Steels Ltd (UVSL). This BF2 project commenced in 2015 and was halted due to financial constraints in 2018.
In December 2020, Nithia Capital and AB CarVal (formerly CarVal Investors) completed the acquisition of UGML and UVSL for in excess of Rs 2,000 crore after securing the approval of the National Company Law Appellate Tribunal (NCLAT). Nithia Capital acquired the entities through their Singapore-based joint venture holding company, Wardha Steel Holdings Pte Ltd.
One of the primary objectives of Nithia upon acquisition of both UGML and UVSL, was to complete this unfinished project within 18 months. This has now been achieved in time and on budget through discipline and teamwork, despite several challenges along the way. This additional capacity will supplement Blast Furnace No 1 (BF1) which has now been taken down for refurbishment and capacity enhancement, post which, UGML will have a hot metal production capacity of over 1.5 million tonne per annum (mtpa) – a 3X increase since the time of acquisition.
Jai Saraf, Chairman of UGML & UVSL and Founder & CEO of Nithia Capital, said, “This is a proud moment for us at Nithia and at Wardha Steel Complex, fulfilling a commitment made at the time of acquisition. This is not the culmination of our investment programme at the complex, but an important step towards realising our overall goal of making Wardha Steel Complex a 2.0 mtpa fully integrated primary steel producer.”
Birendrajee, President (Operations) at Wardha Steel Complex, said, “This has been a challenging capital expenditure program to complete. However, the project teams across the various organisations involved overcame these in a positive & collaborative manor. The increased blast furnace capacity will now enhance our production abilities, lead to better productivity, and lower our operating costs.”
Uttam Galva Metallics & Uttam Value Steels are an integrated mid-size flat steel producer with an annual installed capacity of 1 mtpa of crude steel. The facilities are strategically located in the centre of India near Nagpur with a captive railway siding and all other essential infrastructure facilities, enabling reach to all major markets countrywide and proximity to key raw materials. UGML provides the hot metal/pig iron for UVSL and third parties to manufacture steel. UVSL manufactures steel from this hot metal to produce value added flat steel products such as hot rolled coil, cold rolled coil and galvanised coils and sheets.
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