The Board of Directors of Gallant Ispat Limited, at their meeting held recently, has approved the setting up of a new Direct Reduced Iron (DRI) Kiln having a capacity of 1,65,000 MTPA at the Company’s manufacturing facilities at Gorakhpur, Uttar Pradesh.
The total investment towards the project which is expected to be operational in the first quarter of FY2025 is Rs 125 crores. The project will be fully financed out of internal accruals.
The new kiln will enable the Company to completely utilise the output of its pellet plant. It will also reduce wastage and enhance operational efficiencies. The pellet plant with a capacity of 7,92,000 MT commenced commercial operations in July 2023. It was set up to reduce any external dependence for pellets.