Vesuvius Group, a global giant in refractory, plans to invest Rs 500 crore in the next three to five years in its manufacturing plants in India, Patrick Andre, chief executive of the group, said.
Andre was speaking at the inaugural function of the factory capacity expansion, undertaken through internal accruals, at the Taratala unit in Calcutta, the first plant of the London-based group in India.
Vesuvius operates from multiple locations including Calcutta, Visakhapatnam, Pune, Pondicherry, and Mehsana. “We are expanding our plants in India supplying technology-driven products to the steel and foundry industries. Our group’s annual turnover in the country is around Rs1,700 crore,” Andre said.
He said there would be a 35 per cent increase in monthly production capability with operations already kicked off in the expanded plant at the Taratala unit. “Our company is giving a special focus on organic investment and the research and development wing which is running very well at Visakhapatnam,” he added.
“With so many new steel plants coming up and existing ones expanding capacity, the demand for black refractories produced by us is on a sharp rise. Tata Steel, JSW, ArcelorMittal, SAIL, and many other steel giants have been using our products for decades,” said Biswadip Gupta, chairman of Vesuvius India.
VIL MD Nitin Jain and other board members SudiptoSarkar, Nayantara Palchoudhuri were present.
