Detailed Project Report on Steel Plant Based on Induction Furnace for the Production of Ingots (M.S. Ingots)

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STEEL PLANT BASED ON INDUCTION FURNACE FOR THE PRODUCTION OF INGOTS (M.S. INGOTS)

[EIRI/EDPR/1293] J.C. 9955

INTRODUCTION

Castings of suitable shape and size intended for subsequent hot working are termed as Ingots.

Ingot iron has very low carbon in steel. This is generally made in the open hearth in which all the other elements are removed to the maximum extent possible. Some of the commercial products falling under this group have less than 0.1% of all non-iron elements put together.

Ingots are cast in ingot moulds which are the containers usually made of cast iron into which molten steel is poured & allowed to solidify.

Mild steel ingots are carbon steels only containing, usually, 0.15 to 0.25% of carbon. These may be fully deoxidized to reduce the oxygen content of the steel to a minimum in order that no reaction takes places between carbon & oxygen during solidification. Such steels are called "Killed Steel".

Most of the bars and structural are manufactured in standard sections/sizes. But, ingots/Billets/Bloomy etc. require mutual negotiations between the producer & the buyer for factors & rangs. Generally M.S. ingots are produced in square cross sections of sizes 50mm to 125mm in 1979. There were 145 licensed Electric Arc Furnace units with a total licensed capacity of 3.32 million ingot tones running at 70% Capacity utilization. These units collectively form the group of mini steel Plants. This concept takes advantage of local availability of major inputs like scrap & power and proximity of the mini steel industry in India has been phenominal after 1970.

Though the tradition of mini steel plants started quite late in India, but it is getting whole hearted popularity now. India has decided to import 1,00,000 M.T. of heavy melting scraps from USSR in the current year (1988) by July inorder to keep the mini steel plants & re-rolling mills running. Over the last couple of months such scrap has not been available in the international market, particularly of desired sizes (suitable for induction furnaces of small capacities which use larger scraps.

The USSR has agreed to allow 180 days credit 7% rate of interests and prices are payable in rupees.

Steel ingots in the first stage of raw material required in semi-finishing and downstream industries of steel base.

M.S. ingots are of great application for mfg. structural sections, sheets and plates etc. Induction furnace based steels can assure a high degree of quality control, economy and usefulness in Indian economy.

These induction furnace based steel casting units are suitable for S.S.I. and medium scale units both in the private sector and yet have the capability to compete in the internal as well as international market at all counts.

Looking at the rising demand of steel (specially mild steel) in the country and comparatively short supplies from indigenous productions, it is very well advised for new entrepreneurs to come up with reasonable targets of production of steel ingots/billets and other structural sections. The prospects are good both because government is carefully trying to arrange the inputs for steel industries at reasonable prices & in required quantity and because it requires all indigenous capital goods & technologies. The apparent consumption is so high that market is not a problem.

COST ESTIMATION

Plant capacity               60.00 MT/day
Land & Building (3 Acres)       Rs. 2.93 Cr
Plant & Machinery                      Rs. 1.53 Cr
W.C. for 3 Months                       Rs. 12.76 Cr
Total Capital Investment       Rs. 17.61 Cr
Rate of Return                            60%
Break Even Point                        31%

CONTENT

INTRODUCTION

USES & APPLICATIONS

BIS SPECIFICATIONS

MARKET POSITION

PROCESS FLOW DIAGRAM

PROPERTIES

INDUCTION FURNACE MELTING PRACTICE

WORKING PRINCIPLE & METHOD OF OPERATION

MANUFACTURING PROCESS

PROCESS FLOW DIAGRAM FOR THE MANUFACTURE

PLANT LAYOUT

PRINCIPLES OF PLANT LAYOUT

PLANT LOCATION FACTORS

EXPLANATION OF TERMS USED IN THE PROJECT REPORT

MANUFACTURERS & SUPPLLIERS OF M.S. INGOT

SUPPLIERS OF RAW MATERIALS

SUPPLIERS OF PLANT AND EQUIPMENTS

APPENDIX – A:

01. PLANT ECONOMICS

02. LAND & BUILDING

03. PLANT AND MACHINERY

04. OTHER FIXED ASSESTS

05. FIXED CAPITAL

06. RAW MATERIAL

07. SALARY AND WAGES

08. UTILITIES AND OVERHEADS

09. TOTAL WORKING CAPITAL

10. TOTAL CAPITAL INVESTMENT

11. COST OF PRODUCTION

12. TURN OVER/ANNUM

13. BREAK EVEN POINT

14. RESOURCES FOR FINANCE

15. INSTALMENT PAYABLE IN 5 YEARS

16. DEPRECIATION CHART FOR 5 YEARS

17. PROFIT ANALYSIS FOR 5 YEARS

18. PROJECTED BALANCE SHEET FOR (5 YEARS)

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