Steel Exchange India has inked a memorandum of understanding with Andhra Pradesh Government for expansion of its steel plant in Vizianagaram district of Andhra Pradesh.

Part of the Vizag Profiles Group, Steel Exchange, entered into a memorandum during the CII Partnership Summit.

As per the MoU SEIL plans to expand its steel plant from 0.25 million tonne to 1.25 million tonne at Sreerampuram Village in Vizianagaram district, with an investment of Rs. 7,937 crore, in two phases.