Mumbai, April 16 -- The approved expansions will increase the company's steel billet capacity from 528,000 metric tons (MT) to 800,250 MT, rolling mill capacity from 528,000 MT to 805,200 MT, sponge iron capacity from 544,500 MT to 560,000 MT, and pellet capacity from 792,000 MT to 990,000 MT.

Additionally, the company plans to expand its captive power plant (thermal and waste heat recovery boiler) capacity from 78 MW to 100 MW. Gallantt Ispat also intends to establish a new 100 MW captive solar power plant.

A total of Rs 1,014.98 crore of capex for the above expansion and captive solar power plant have been approved by the board of directors. Further, the total project capex shall be funded by the company through internal accruals with...