SAIL Chairman Assures Full Investment Support to MEL for New Facilities

May. 10, 2011 05:36PM PST

Business Standard reported that Maharashtra Elektrosmelt Ltd. (BOM:504824) was asked to create a plan for fulfillment of Steel Authority of India Ltd.’s (BOM:500113) ferro-alloy requirements.

The market news is quoted as saying:

Power constitutes about 35-40% of the cost of production of ferro-manganese. In view of this, SAIL is also planning to set up a power plant consisting of two 45 MW units at MEL.

To read the full market news, click here.

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