Essas Steel, from India, has prepared a plan to double earnings before interest, taxes, depreciation and amortisation (Ebitda) margins at its domestic operations to 18-20 per cent in FY17, by way of reducing dependency on natural gas, a major input cost for the debt-laden company, and by capturing local demand, which has improved after curtailing of import.
“The plan is to lower costs by 30 per cent, by increasing production from our corex and blast furnaces which use coke, coal and in-house generated gas as feedstock, and reduce dependency on production from the sponge iron plant which uses natural gas as its feedstock,” director Jatindar Mehra said.
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