Vesuvius, a world-renowned leader in the refractory industry, based in the United Kingdom, has recently opened a new mould flux manufacturing plant in Bonangi, Parawada mandal, near Visakhapatnam. The company has ambitious plans to invest up to Rs 1,000 crore in this facility over the coming years. The plant is strategically designed to cater to the growing demand for flux, an essential element in the continuous casting process at steel plants.
Patrick Andre, the Chief Executive of Vesuvius Group, which is headquartered in London, expressed his delight at the inauguration of this state-of-the-art flux manufacturing facility. He emphasized that this development is a reflection of their unwavering commitment to innovation and to meeting the needs of their customers and the market. He further stated that given the impressive growth of Vesuvius in India and the basis of the investment pipeline, they anticipate exceeding their initial investment plans of Rs 500 crore to reach nearly Rs 1,000 crore outlay in the next few years.
The flux manufacturing plant in Visakhapatnam, established by the Kolkata-headquartered Vesuvius is the first of three new facilities expected to be operational in 2024.
“India has always been a strategic market for the group. The manufacturing capabilities in India will enhance our competitive position in the country and also contribute to the socio-economic development of the communities where we operate,” said Biswadip Gupta, chairman of Vesuvius India.
In recent years, Vesuvius has been significantly investing in India by not only expanding the capacity of its existing manufacturing plants but also by establishing three new greenfield manufacturing plants. These new plants are expected to add an additional capacity of 2,50,000 tonnes per annum. The newly inaugurated mould flux manufacturing plant in Visakhapatnam is the first among the three new manufacturing plants that are expected to be operational in 2024.
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