Buoyed by the recent government withdrawal of the 45 percent export tax, India’s Envirocare Infrasolutions Limited, a subsidiary of Shri Mahavir Ferro Alloys Limited, has decided to increase the capacity of its iron ore pellet plant to 4,800 mt per day from 1,800 mt per day at present, industry sources said on Monday, November 28.
The company will also set up a direct reduction iron (DRI) plant and an iron ore beneficiation plant, all aggregating to capital expenditure of around $64 million, the sources said.
The projects to be located in Sundargarh district in the eastern state of Goa have received approval from the state government and land acquisition has been completed and orders of supplies of machinery will be placed shortly, the sources said.