"A consortium comprising Siemens AG (Germany) and Siemens Ltd has received an order from state-owned Rashtriya Ispat Nigam to thoroughly modernize its Vishakhapatnam steel plant," Siemens Ltd said in a stock exchange filing. The share of the order value for Siemens Ltd is Rs 271 crore, the company said in the filing.

Modernization work will boost the furnace's inner volume from 3,200 to 3,820 cubic metres and production increase from 1.7 million tonnes per annum to 2.5 million tonnes per annum, it said. Vizag steel plant's modernization is a part of the expansion project which is intended to boost annual pig iron production to 7.3 million tonnes.

Pig iron is crude iron as first obtained from a smelting furnace. Shares of Siemens Ltd were trading at Rs 475.75, down 0.89 per cent on the BSE.

(Agencies)

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