Mukand to Increase Stainless Steel Production at Thane Plant
Special steel maker Mukand’s CMD Mr Niraj Bajaj and Co Chairman & MD Mr Rajesh V Shah in their communication to shareholders said that the company will shortly be enhancing its production and sales of stainless steel at the Thane facility from 100,000 tonnes annually to 150,000 tonnes per annum. They said that production and sales expansion will be without any significant capital expenditure resulting in an increase of turnover by approximately INR 700 crore per annum. They said "This is possible as the alloy steel rolling, normally done at the Thane plant, is now being gradually transferred to the newly commissioned bar and wire rod mill at the MSSSL Hospet plant, freeing up greater capacity for stainless steel products at the Thane facility."
The production and sales of specialised stainless steel long products at the Thane plant was affected due to the diversion of oxygen for medical purposes for six weeks before May 31, 2021. The supply of oxygen to the plant was resumed on June 1, 2021, as per government directives, and production of stainless steel has regained normalcy.
Mukand is an integrated alloy and stainless steel producer from India. Mukand has a steel making and rolling capacity of 500,000 tonnes per year. Mukand produces over 400 grades of specially engineered steel to stringent requirements for customers across the globe.