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Mideast Integrated Steels Ltd.

BSE: 540744 Sector: Metals & Mining
NSE: MIDEASTSTL ISIN Code: INE170N01016
BSE 00:00 | 17 Sep 13.52 -0.70
(-4.92%)
OPEN

14.00

HIGH

14.45

LOW

13.51

NSE 05:30 | 01 Jan Mideast Integrated Steels Ltd
OPEN 14.00
PREVIOUS CLOSE 14.22
VOLUME 10607
52-Week high 19.75
52-Week low 4.21
P/E
Mkt Cap.(Rs cr) 186
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 14.00
CLOSE 14.22
VOLUME 10607
52-Week high 19.75
52-Week low 4.21
P/E
Mkt Cap.(Rs cr) 186
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mideast Integrated Steels Ltd. (MIDEASTSTL) - Company History

Mideast Integrated Steels (MISL) has set up a project to manufacture 4.64 lac tpa of pig iron. This is the first Indo-Chinese joint venture in the steel sector in financial-cum-technical collaboration with China Iron & Steel Industry & Trade Group Corporation (CSGC). It is also the first 100% EOU to manufacture foundry-grade pig iron. Moreover the capacity (4.64 lac tpa) is the largest in the private sector. The project was financed by a public issue in Sep.'94.The technology is being supplied by CSGC a state-owned foreign trade corporation of China which has supplied know-how to and has a substantial financial stake in most steel plants in China. MISL has paid US $ 2523000 to CSGC as fees for technological know-how and consultancy services.The Chinese technology has some advantages over that from the West. It has scope for injecting oxygen ensuring higher start-up temperature and hence lower tap time. It also has a provision for coal injection thereby cutting coke costs to some extent. During the year 1996-97 the capacity was increased to 700000 TPA and cost of the project was revised to Rs 457 crores. The project is in the last phase of implementation and having regard to the current progress of the project it can be confidently confirmed that Blast Furnaces will commerce production by June 1998.

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