Business
Metso Minerals bags order worth EUR 17 million from Essar Steel Ltd
New Delhi | May 16, 2008 12:22:25 PM IST
New Delhi, May 16 (ANI/Business Wire India): Metso Minerals, a leading global supplier of equipment, service and process solutions for rock and minerals processing, today announced that it will supply an iron ore induration machine to Global Supplies Ltd, a member of the Essar Group. The machine will be delivered to Essar Steel Holdings Ltd. for its Paradeep Pellet Plant located in Orissa. The delivery, approximately valued at approximately Rs 112 crore (EUR 17 million), will be completed during the second quarter of 2010. The order comprises a 744 square meter induration machine with 270 pellet cars with a feed rate of 700 tonnes per hour of iron ore pellets, as well as auxiliary equipment, start-up, commissioning and training services. Induration machine is used for making iron ore pellets though straight grate pelletization process. Metso Minerals last year announced the expansion of its office premises and manufacturing and foundry capacities in India with a combined investment of EUR 12.5 million. The company is also investing approximately EUR 30 million in India to set up "Metso Park", a multi-functional industrial facility in Alwar, Rajasthan. In India, Metso grew by 30 per cent from 2006 to 2007. Metso's net sales in India were approximately EUR 150 million in 2007. In 2007, Metso Minerals' worldwide had EUR 2.6 billion net sales and the value of orders received totaled EUR 3.07 billion. Metso Minerals' services business accounted for 40 per cent of the net sales (43 per cent in 2006). The operating profit of Metso Minerals increased to EUR 362.6 million, which was 13.9 per cent of net sales. The value of orders received by Metso Minerals increased by 16 per cent and totaled EUR 3,075 million. (ANI)
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