Visa Steel: Closing its 1.5 million tons steel mill with annual capacity involving sponge iron and ferrochrome

Release time：Sep 02, 2019 From：admin

Recently, Visa Steel (Visa Steel India) closed its 1.5 million-ton complex in Kalinga Nagar. With the layoffs of 350 workers in both furnaces, all ferrochrome plants were shut down. The fate of another 2,000 employees and 930 employees, including factory executives and non-executive directors, is unresolved.

According to sources, VISA Steel operated a 2,25,000 TPA blast furnace, 3,00,000 TPA sponge iron plant and 5,00,000 TPA steel plant and 1,50,000 TPA ferrochrome plant in Kalinga Nagar through the electric furnace route. It has more than 3,200 employees, of which approximately 2,350 are workers, 500 are non-executive directors and 400 are executives. The integrated steel plant produces iron, sponge iron, TPA rods, wire rods and ferrochrome.

It has two DRI units, five ferrochrome units, a power plant, a steel melting shop (SMS) and a hot rolling mill (HRM). The company's three ferrochrome units, SMS, HRM, power plan and small blast furnace were previously closed. The plant has only two ferrochrome alloy units in operation.