Vesuvius launches new mould flux manufacturing plant in Visakhapatnam to bolster steel industry support
Vesuvius, a prominent leader in the refractory industry, has inaugurated its new Mould Flux manufacturing plant in Visakhapatnam, marking a significant milestone in the company’s expansion in India. The new facility is designed to meet the growing demand for flux, which plays a crucial role in the continuous casting process of steel plants.
During the inauguration, Patrick Andre, Chief Executive of the London-headquartered Vesuvius group, expressed his enthusiasm about the new facility. “We are delighted to inaugurate our new state-of-the-art Flux manufacturing facility, a testament to our relentless pursuit of innovation and our commitment to meeting the needs of our customers and the market,” said Andre. He further highlighted the company’s ambitious investment plans in India, noting that Vesuvius is set to exceed its initial investment projection of Rs 500 crore, aiming for a near Rs 1,000 crore outlay over the coming years.
The Visakhapatnam plant is the first of three new greenfield manufacturing plants Vesuvius plans to operationalize in 2024, which together will add an additional capacity of 250,000 tons per annum. This expansion not only strengthens Vesuvius’ position in the market but also underscores its commitment to the Indian economy and the socio-economic development of the local communities.
Biswadip Gupta, Chairman of Vesuvius India Limited (VIL), reflected on the company’s long-term commitment to India. “India has always been a strategic market for the group – we were the earliest refractory manufacturer globally to recognize the potential of this dynamic market and coincidentally complete 30 years of starting our first manufacturing plant in India this year,” Gupta stated. He emphasized the strategic importance of enhancing manufacturing capabilities in India to boost the company’s competitive position.
Nitin Jain, Managing Director of VIL, detailed the innovative aspects of the new plant. “With the inauguration of this cutting-edge manufacturing plant, we embark on a path that not only redefines industry standards but also reaffirms our dedication to delivering value to our customers,” Jain said. He highlighted the plant’s focus on sustainability, including energy efficiency and waste management, which are integral to Vesuvius’ strategy for sustainable growth.
Jain also praised the dedication and contributions of Vesuvius employees, whom he described as the company’s “people capital,” vital to its success and growth in the industry.
Vesuvius’ establishment of a new Mould Flux manufacturing plant in Visakhapatnam is a strategic move that significantly enhances its manufacturing footprint and sustainability initiatives within the global refractory market. By investing in state-of-the-art facilities and focusing on environmental sustainability, Vesuvius not only meets the increasing demands of the steel industry but also sets new standards in responsible manufacturing. This expansion is likely to reinforce Vesuvius’ leadership in the refractory industry and its commitment to supporting the burgeoning needs of the steel production sector.