Nova Iron & Steel, a unit of Bhushan Power & Steel, has a sponge iron production facility in Dagori, Chhattisgarh with an installed capacity of 150, 000 MT pa.
The unit has commenced the plant’s operations in early Dec’15 and material is also being sold to few clients as samples. Presently, Nova Iron & Steel is sourcing iron ore from Odisha based private miners as it doesn’t have any iron ore mine.
Present offers from sources are heard for 80 FeM C-DRI (guarantee) at INR 13,200-13,400/MT, ex-works (advance payment, ED and VAT extra).
The plant has been closed for a long period i.e since 2008. Bhushan Power & Steel has seven steel plants located in Chandigarh, Derabassi, Kolkata and Odisha, with a combined capacity of over 2.3 MnT pa.
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