Tata Sponge, one of the India’s largest sponge iron producer with annual production capacity of 3,90,000 MT per annum, has achieved its 100% production utilization in FY17, the report published by the company said.
If yearly comparison done, the production surged nearly 8.2% in FY17 as compared to 360,446 MT in FY16. The total operation days were 313 with the production of 1,247 tons per day.
Further with increase in production, total sales of sponge iron also increase by 7.4% in FY17 to 392,782 MT against 365,815 MT in FY16.
Net profit, after tax (including both – power plant & sponge unit) reported at 5,874 Lakh in FY17, which was about 3,189 Lakh in FY16.
Recently, in May 2017, the company also received clearance from the Ministry of Environment Forest and Climate Change to whoop the production.
Currently, The company has 3 kiln of 500 MT each which produce sponge iron at 390,000 TPA. And the enhancement of production is from 390,000 TPA to 425,000 TPA.
TATA’ sponge plant is located in Odisha, East ; selling material majorly in North East Regions. The company is also involved in exports.
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