Ferro alloys and sponge iron manufacturer, Mahalaxmi Vinimay has diversified into stainless steel business. The company has commissioned a 30,000-tonne production facility in Asansol.
The new plant will produce stainless at a price much lesser than the current imports.
Announcing the launch Mr Gopal Agarwal, Managing Director of the company said, "Once fully operational, the new stainless unit will push the company's turnover by an additional Rs 400 crore annually. And all of this will be consumed in Eastern India alone.”