Home » Project Reports & Profiles » Sponge Iron Plant - Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, Survey, Manufacturing Process, Machinery, Raw Materials, Feasibility Study, Investment Opportunities, Cost And Revenue

Sponge Iron Plant - Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, Survey, Manufacturing Process, Machinery, Raw Materials, Feasibility Study, Investment Opportunities, Cost And Revenue

Sponge iron is the product created when iron ore is reduced to metallic iron, usually with some kind of carbon (charcoal, etc), at temperatures below the melting point of iron. This results in a spongy mass, sometimes called a bloom, consisting of a mix of incandescent wrought iron and slag. Sponge iron is not useful in itself, but must be processed to create wrought iron. The sponge is removed from the furnace, called a bloomery, and repeatedly beaten with heavy hammers and folded over to remove the slag, oxidise any carbon or carbide and weld the iron together. This treatment usually creates wrought iron with about three percent slag and a fraction of a percent of other impurities. Further treatment may add controlled amounts of carbon, allowing various kinds of heat treatment (e.g. "steeling"). Today, sponge iron is created by reducing iron ore without melting it. This makes for an energy-efficient feedstock for specialty steel manufacturers which used to rely upon scrap metal. The sponge iron is a substitute for scrap in the electric arc furnace, which can be easily manufactured from indigenously available raw materials at very competitive price. It is the iron ore reduced in solid state by a direct reduction process using natural gas or non cooking coal as reluctant. The sponge iron is also known as Direct Reduced Iron, Hot Briquettes Iron or metalized Iron. With the domestic steel industry picking up during the past year and prices moving up in leaps and bounds, India has emerged as the world's largest producer of sponge iron (or direct reduced iron), accounting for around 16 per cent of the global output. Sponge iron is used to make steel by all Indian steel producers and is a substitute for steel melting scrap. Healthy demand growth in steel sector is also pushing sponge iron demand. Apart from declining availability of steel melting scrap, sponge iron demand has also gone up considerably and is likely to continue. About 45% of the domestic output is through EAF (Electronic Arc Furnace) route. However, going forward this is slated to increase. With steel production is likely to grow at 6%-7%, the demand for sponge iron is likely to grow at more than 10 percent till the year 2007 and then expected to stabilize at 8 percent after that.
Plant capacity: 135000 MT / AnnumPlant & machinery: 7175 Lakhs
Working capital: -T.C.I: Cost of Project : 8923 Lakhs
Return: 42.00%Break even: 25.00%
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