MSP Steel & Power Ltd has announced that the company is enhancing its capacity of pellet plant from 300,000 tonne per annum to 900,000 tonne per annum by setting up 600,000 tonne per annum of pellet plant at Raigarh with a total project cost INR 226 crore.

For financing of this project the Company has achieved the financial closure for debt funds of INR 150 crore. DBS Bank has sanctioned ECB of 15 million which is equivalent to INR 70 crore and balance of the funds is financed by Union Bank, Corporation Bank & Dena bank.

The company is currently running 300,000 tonne per annum of pellet plant, 192,000 tonne per annum of sponge iron plant, 144,109 tonne per annum of steel melting plant, 80,000 tonne per annum of roiling mill, 128,000 tonne per annum of structural rolling mill, 24 MW of power plant. Apart from above, the company has coal washery and own.