Ispat Industries Limited (IIL) has informed that it has decided to pump Rs 2,000 crore during the coming two fiscals.

With the proposed investment the company will establish a captive power plant, a coke oven battery as well as pellet plant at its existing plant site located at Dolvi in Maharashtra.

In a communiqué, functionaries of Ispat Industries Limited stated that the conglomerate envisages to invest Rs 480 crore on two power units of 55 MW each and about Rs
600 crore has been reserved for a 2.4 mt pellet plant.

The largest amount of Rs 1,100 crore will be pumped into one million tonne coke oven battery, while the balance Rs 400 crore will be invested on the mining operations.

The sources informed that the projects are scheduled to be started by fiscal 2011-12.

While addressing press conference, Mr. Pramod K Mittal, chairman of Ispat Industries Limited said, "We hope the investment in these projects will make us cost competitive and enable us to move up the value chain."

Ispat Industries Limited (IIL) is India's major private sector producer of hot rolled coils and steel manufacturer.