Vesuvius, a global leader in the refractory industry, proudly inaugurates the new Alumina-Silica (AlSi) and Basic Monolithic manufacturing plants, at a ceremony held on 12th November 2024, in Visakhapatnam, further supporting the Make in India initiative. The state-of-the-art facilities are integral to Vesuvius's ongoing investments in India, aimed at enhancing manufacturing capabilities and addressing the rising demand from the iron and steel industry. This development follows the April inauguration of the Mould Flux manufacturing plant in Vishakhapatnam.
The new AlSi and Basic Monolithic plants will produce high-quality alumina-silica and basic monolithic refractory products, essential for iron and steel production. This expansion, once in commercial production, will boost annual production capacity by 250,000 tons, reinforcing Vesuvius's position as a leading provider of refractory solutions in the region. These plants are setup with equipment that enable Vesuvius to bring new products and technologies to the Indian Market.
Mr. Patrick Andre, Chief Executive of London headquartered Vesuvius group, stated, "Our ongoing investment plans highlights our strong belief in the Indian market. The AlSi and Basic Monolithic plants are a testament to our commitment to innovation and support to India's industrial growth."
"These new facilities not only enhance our manufacturing capabilities but also contribute to the socio-economic development of the communities we serve. Sustainability and efficiency are at the core of our operations." said Mr. Biswadip Gupta, Chairman of Vesuvius India Limited (VIL).
Mr. Mohinder Rajput, Managing Director of VIL, emphasized, "Our new plants feature energy-efficient technologies and robust waste reduction systems, ensuring that our growth aligns with environmental stewardship and operational excellence.
Shares of Vesuvius India Limited was last trading in BSE at Rs. 5314.95 as compared to the previous close of Rs. 5318.00. The total number of shares traded during the day was 189 in over 114 trades.
The stock hit an intraday high of Rs. 5389.85 and intraday low of 5288.00. The net turnover during the day was Rs. 1012599.00. |