Minerals and metals company Visa Steel today informed the Bombay Stock Exchange that it has closed down its 50,000 TPA Ferro Chrome Plant owing to poor market conditions.

"...50,000 Tonnes Per Annum Ferro Chrome Plant of the company has been temporarily closed due to poor market conditions," the Kolkata-based company informed the BSE.

Visa Steel is at present operating a blast furnace with a production capacity of 225,000 TPA of pig iron, a stamp charged coke oven plant of 4,00,000 TPA and a chrome ore beneficiation plant and a chrome ore grinding plant with the capacity of 100,000 TPA each.

The company is setting up an integrated 1.5 million tpa special and stainless steel plant at Kalinganagar Industrial Complex, Orissa. It also plans to set up integrated steel plants in other minerals rich states such as Chhattisgarh and Jharkhand. – Asia Pulse