India: Monnet Ispat Resumes Operation in Raigarh, Chhattisgarh

Monnet Ispat and Energy Limited (MIEL) restarted its Raigarh, Chhattisgarh based integrated steel plant on 2nd May, after suspension for over a month's time, due to COVID-19 outbreak.

However its Raipur, Chhattisgarh based plant will continue to remain temporarily suspended till further notice, the company release quoted.

The both plants were locked down on 25th March, when the first confirmed COVID-19 case was reported.

The manufacturing operations of the Company will be conducted in compliance with the relevant guidelines/advisory issued by the Government and authorities.

"We are now operating our plant with 40-50% capacity utilization according to the Indian government's policies," an official from Monnet Ispat said.

The MIEL's Raigarh based steel plant has a production capacity of 1.5 MnT pa to produce HR plates, rebars and structure profiles to cater to the rapidly growing infrastructure & construction industry. In August 2018, Monnet Ispat & Energy Limited (MIEL), was acquired jointly by a consortium of Aion Investments Private Limited (AION) and JSW Steel Limited.

As per market sources report to SteelMint, the company has recently offered Pig iron & Sponge iron in the spot market, while company's pellet offers have been floating in the market since 3rd week of Apr'20.