Liberty Steel Begins Operations at Indian Steel Assets

SEATTLE (Scrap Monster): UK-based Liberty Steel, part of GFG Alliance, announced that it has commenced operations at the acquired steel assets in India. The company had acquired Adhunik Metaliks and its arm Zion Steel in an INR 425 crore acquisition deal in February this year.

According to company press release, it has started the initial phase of production at the facilities. It has been engaged in intensive preparation works to ready the site to return to production over the past six months. The plants had undergone extensive maintenance and repair activities so as to make it prepared for formal production restart. The ramp-up works had provided nearly 1,500 permanent and contractual jobs to locals.

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Commenting on the important milestone, Sanjeev Gupta, GFG Alliance Executive Chairman noted that it is a proud moment for the company. Adhunik is on its way to becoming fully operational. The company plans to take the operations to the next level and integrate the businesses into Liberty Steel Group at the earliest, he added.

Adhunik’s integrated steel plant at Chadrihariharpur near Rourkela in Odisha has a steelmaking capacity of 0.5 million tonne per annum (MTPA). Along with Zion's steel rolling facility, it has a combined capacity of nearly 400,000 tonne per annum.