Midhani on expansion and diversification drive (US)

State-owned Mishra Dhatu Nigam Limited (Midhani), a strategic defence public sector company, is on an expansion-cum-diversification mode setting up an integrated plate mill, a 3D printing facility for alloy powders and carbon fibre materials and is at an advanced stage of finalising plans for a 4,000-crore unit with Nalco, which is awaiting Central government’s approvals. Dinesh Kumar Likhi, Chairman and Managing Director, said: “We are currently in the process of implementing a 500-crore expansion plan, which includes a 400 crore versatile plate mill, a 3D printing facility along with other infrastructure upgradation across units.”

While the Rohtak facility of Midhani is being upgraded and expanded, it is also in the advanced stage of finalising plans for a 3D printing facility for material powders. This will be versatile and be able to handle various types of materials.

The CMD said Midhani was hopeful of NMDC completing its due diligence for stake buy for tungsten assets of Masan Resources in Vietnam by March.

Tungsten assets

Likhi said, Midhani, which is known for making special grade metals for defence sector, was hopeful its partner NMDC will complete the due diligence for finalising acquisition of minority stake in a tungsten mine at in Vietnam.

Both the State enterprises had signed up in 2016 to explore tungsten assets in India and abroad for investment and development and then convert it to Ammonium Para Tungsten. Masan operates a mine that produces a big quantity of this strategic input in defence applications.

Responding to BusinessLine’s query on the progress, he said they were in the process of setting up a plant in Hyderabad which will enable them to make tungsten products. And this was independent of the progress NMDC makes in the acquisition of stake in Masan.

NMDC stake buy will secure raw material, he said.

Source:

https://www.thehindubusinessline.com/companies/midhani-on-expansion-and-diversification-drive/article26030429.ece

Posted in Companies.

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