The Hazira Plate Limited (HPL), an Essar Group company, is setting up a Plate Mill at Hazira capable of producing 5 metre width plates. These are currently produced only by 6 international steel companies. The plant will have a capacity of 1.5 million tonnes per annum. This is the first plate mill of its kind in India and will be one among six plants in the world. The technology for the plate mill is being provided by VAI Clecim, France. The plant will produce premium plates that fall in the category of specialty products.

This product finds application in varied industries including manufacture of large diameter oil & gas pipelines, ship-building, boiler & pressure vessels, and the construction industry. This is a totally import-substitute product.

The project is estimated to cost Rs. 1969 crore. The project has achieved full financial closure. SBI Capital Markets Limited and IDBI Capital Market Services Limited have syndicated the term loan facility. The plate mill is scheduled to be commissioned by the end of 2007.

HPL is a joint venture between the Essar Group of India and Stemcor of U K in the proportion of 76%:24%.

About the Essar Group
The Essar Group is one of India's largest corporate houses with interests spanning the manufacturing and service sectors like Steel, Oil & Gas, Power, Telecom & BPO, Shipping and Construction. The Group has an asset base of over Rs.23, 000 crore and employs over 15,000 people.