Harsco Corp. has been awarded a multi-year contract valued at more than $65 million over its duration as an onsite services partner to Ispat Dolvi, located in one of India’s steel complex.
Harsco will undertake onsite material handling, metal recovery and slag stockpile services at the 1,200-acre complex. The plant produces more than 3 million tons of steel per year and is part of Ispat Industries Ltd. Work is scheduled to start by the beginning of next year.
"Ispat Dolvi is a perfect strategic entry point for Harsco into one of the world's foremost steelmaking economies. Our partner Ispat Industries is a solid industrial organization with a proven commitment to growth and innovation. We look forward to a long and mutually successful relationship that will serve as a model for Harsco's further expansion in this market," says Galdino Claro, Harsco Metals’ CEO.
Reflecting the growth prospect of India’s steel sector, the World Steel Association forecasts a 12.1 percent increase for this year.
Going further out, projections anticipate a quadrupling of India's total steel production from its current 50 million tons to about 200 million tons by 2020.