Siemens bags Rs 271 crore order from Rashtriya Ispat Nigam
Sep 30 2013 , New Delhi
"A consortium comprising Siemens AG (Germany) and Siemens Ltd has received an order from state-owned Rashtriya Ispat Nigam to thoroughly modernise its Vishakhapatnam steel plant," Siemens Ltd said in a stock exchange filing.
The share of the order value for Siemens Ltd is Rs 271 crore, the company said in the filing.
Modernisation work will boost the furnace's inner volume from 3,200 to 3,820 cubic metres and production increase from 1.7 million tonnes per annum to 2.5 million tonnes per annum, it said.
Vizag steel plant's modernisation is a part of the expansion project which is intended to boost annual pig iron production to 7.3 million tonnes.
Pig iron is crude iron as first obtained from a smelting furnace.
Shares of Siemens Ltd were trading at Rs 475.75, down 0.89 per cent on the BSE.