JSW-acquired Monnet Ispat and Energy plans to start operations at its integrated steel mills next month to benefit from the revival of demand for steel in the domestic market.
JSW Steel’s joint managing director and group chief financial officer, Seshagiri Rao said that Monnet has completed the expansion of its pellet plant to 2.4mn mt, according to a report by Business Standard. JSW Steel and AION Capital had acquired Monnet Ispat and Energy in September 2018.
The recovery of demand from the infrastructure, retail and construction sectors has expedited the restart of its integrated steel operations to the next month. The integrated plant was shut for maintenance and upgrade in October. Post acquisition, Monnet restarted integrated steel production with a blast furnace, an electric arc furnace, ladle refining, continuous casting and bar mill rolling in February. Monnet has a capacity of 1.2-1.3mn mt, and land is available for expansion up to 3mn mt.