VISA Steel resumes operations at Kalinganagar plant in Odisha

KOLKATA: VISA Steel said it has resumed operations at its Steel Melt Shop, Ladle Refining Furnace, Vacuum Degassing & Rolling Mill facilities at its Kalinganagar plant in Odisha on Monday, July 25, 2016 after a prolonged shutdown.

The company was unable to operate these facilities due to acute scarcity of raw material at viable prices for around a year. A depressed steel market and shortage of working capital had also added to its woes.

However the company said improved availability of raw material, along with a renovation of its blast furnace & DRI kilns, the company has resumed operations of its facilities.

The company plans to make Special Steel Long Products by using Hot Metal from its Blast Furnace and direct reduced iron (DRI) from its Sponge Iron Plant. The Special Steel products include Bars & Wire Rods for the auto component, railways & defence sectors.