Tata Metaliks may shut its Redi plant
03 Aug 2011
Tata Metaliks Ltd today said it would be forced to shut down its Redi plant near Goa if supply of iron ore to the plant does not get normalised in the next 7-10 days.
In a filing with the Bombay Stock Exchange (BSE), the company said it has barely 15 days' supply of iron ore and the supply has died off following the Supreme Court-imposed mining ban in the Bellary-Hospet region of Karnataka, which is the main source of iron ore for the company's Redi plant.
Meanwhile, the company, said it is also exploring the possibility of transporting iron ore from the eastern part of the country to run the Redi plant.
The company will inform the exchange as soon as it takes any definitive decision to shut down the Redi plant, the filing said.
Tata Metaliks, promoted by Tata Steel, is the country's top producer of pig iron. The pig iron produced by Tata Metaliks Limited is rated as the best in India.
The company also provides its customers with critical support across their entire business cycle - raw material, process and end product and has emerged as a one-stop shop for raw materials and end products for a large number of customers.
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