Kolkata, Nov 02: Over Rs 810 crore Jhawars controlled Usha Martin Limited, formerly Usha Beltron Limited, is poised for growth through backward integration and as part of this strategy is planning to enter mining sector. "Our Rs 55 crore Direct Reduced Iron (DRI) project and 10 MW Captive Power Plant for value added steel and Wire and Wire Rope products is progressing as per schedule and expected to be commissioned in the first quarter of 2004-05," Usha Martin Vice-chairman Prashant Jhawar said.

Jhawar said commissioning of DRI project would be the first phase of backward integration and second phase would be their entry into coal and iron ore mining.

"The DRI and mining projects will give us full back-up of raw material and at current price level, we are envisaging an annual saving of Rs 55 crore from both the projects," he said.
The vice-Chairman said they had successfully bid for a coal block in Jharkhand which was estimated to have a deposit of 30 million tons of A and B grade of coal that did not require washing. Bureau Report