President Droupadi Murmu will inaugurate Mishra Dhatu Nigam's (MIDHANI) wide plate mill facility in Hyderabad on Tuesday, according to the company's stock exchange filing.

Share Market Live

NSE

The state-owned specialised metals and metal alloys manufacturer has set up a wide plate mill at its existing Hyderabad plant, with an investment of around Rs 500 crore for the rolling of slabs of various alloys.

The company said that the three-meter width of the plate, which can be rolled in the newly commissioned mill, makes it a unique facility in the world. Due to its very high capacity of rolling force, this mill can roll ultra-high strength steel to very low thickness.

The state-owned company said that technology for processing superalloy plates has been established in a very short span of time. MIDHANI has established the technology to produce high-strength Titanium alloys for space, nuclear, and defence applications.

The wide plate mill facility would meet the requirements of special steel plates for national strategic programs.

The mill is expected to serve as a national facility for the development of wide plates that would meet present and future requirements as well as facilitate import substitutes.

The Hyderabad-based manufacturer of superalloys and other special metals is a public-sector undertaking under the Ministry of Defence. The company is involved in the production and supply of various super alloys, special steels, and soft magnetic alloys to defence and other strategic sectors such as energy, space, and aeronautical applications.

Shares of MIDHANI ended 3.8 percent higher at Rs 202.75.