Sesa Goa expects 25pct output growth by FY10

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

29 Nov 2009

Iron ore producer Sesa Goa, a part of mining major Vedanta Resources said that it expects a 25% growth in output this fiscal and plans to ramp up production around threefold to 50 million tonnes in next 2 to 3 years.
Mr P K Mukherjee MD and CEO of Sesa Goa told PTI that "The company will continue to grow. We are looking at 20% to 25% growth in volumes on an year on year basis. We plan to ramp up production to 50 million tonnes in the next two to three years.”
The company produces about 16 million tonnes of iron ore from its mines in Goa, Karnataka and Orissa.
Mr Mukherjee said that the iron ore producer could diversify into steel making as and when the opportunity comes.
The company is making pig iron and is ramping up operations to increase capacity from 0.25 million tonnes per annum to 0.625 million tonnes per annum.
On any proposed acquisitions or mergers, he said as part of the growth strategy, the talks are continuing with firms but as of now there is no concrete information.

Source: PTI