The Ispat Industries Limited in a recent move has planned to invest Rs. 2,600 crore in the next two years on its multiple projects including steel and power. In the latest expansion plan, the company has included a one million tons iron ore pellet project, 110 mw captive power projects all at the Dolvi steel complex and an iron ore mining project at Damkodwadi in Maharashtra.

The chairman Pramod Mittal in a recent statement said that an estimated Rs. 480 crore would be spent on the captive power units, another Rs. 1,100 crore in the coke oven plant, about Rs. 600 crore on the pellet plant and the balance of Rs. 400 crore on the mining operations and the company is expecting that the projects will be commissioned by 2011-12.

Divulging details about the joint partners he said that the Stemcore of the UK will be the partner for the coke oven project while it is an Indian firm for the pellet project. The financial closure for the coke oven project will be completed by November. After the commissioning of these projects, the earnings before interest, depreciation, taxes and amortization (EBIDTA) margin will rise to 35 per cent of the sales from the current 22 per cent.