London-headquartered Vesuvius, a refractory industry, inaugurated a mould flux manufacturing plant at Edhulapaka Bhonangi village in Parawada mandal of Anakapalli district on April 18 (Thursday) to meet the increasing demand for flux, a vital component in the continuous casting process at steel plants.
“Given our growth in India, we envisage surpassing our earlier investment plans of ₹500 crore and reaching close to ₹1,000 crore outlay over the next few years,” said Patrick Andre, Chief Executive of Vesuvius group.
The flux manufacturing plant is first of the three manufacturing plants expected to be operational in 2024.
“Our investment in manufacturing capabilities in India will not only enhance our competitiveness in the country but also contribute to the socio-economic development of the communities where we operate and the development of the Indian economy,” said Biswadip Gupta, chairman of Vesuvius India Limited (VIL).
“The cutting-edge manufacturing plant represents a significant step forward in our journey towards sustainable growth and reinforces our position as a leader in the industry,” said Nitin Jain, managing director of VIL.
