Gallantt Ispat Limited has announced plans to expand the production capacity of its integrated steel plant in Gorakhpur, Uttar Pradesh, with a targeted completion date of March 2026. The company will invest INR 10.15 billion in capital expenditure for the project, including the installation of a new captive solar power plant. The investment will be funded entirely through internal accruals.
The planned capacity expansion includes an increase in billet production from 272,250 metric tons per annum (MTPA) to 800,250 MTPA and sponge iron from 544,500 MTPA to 560,000 MTPA. Pellet production is expected to rise from 792,000 MTPA to 990,000 MTPA. Rolling mill capacity will grow from 528,000 MTPA to 805,200 MTPA.
The expansion also involves enhancing thermal and waste heat recovery-based captive power generation from 78 MW to 100 MW and the addition of a 100 MW solar power plant.
The company stated that the project will be a brownfield expansion and will not involve any external borrowing.