Jamshedpur, Jan. 3: In a bid to meet growing industrial demands, Chandil-based Bihar Sponge Iron Limited (BSIL), under Modi group of companies, has invested over Rs 20 crore to upgrade its facilities for an annual production of 2 lakh tonnes.

Chief minister Babulal Marandi will inaugurate the new facilities at the BSIL plant tomorrow, which would aid the management to enhance its production.Senior BSIL official R.K. Jaitley informed that the company has investment was to establish a 5 MW captive power plant and drier plant with an annual capacity kiln for 36,000 tons for increasing its production to nearly 2 lakh tons per annum. The present production capacity of BSIL is about 1.62 lakh tons per annum.

The chief minister will also inaugurate a boating facility at Chandil dam during his trip to Chandil in adjoining Saraikela-Kharsawan district. The new arrangement has been made to attract tourists. Company officials said that along with Marandi, state industries minister P.N. Singh, finance minister M.P. Singh and welfare minister Arjun Munda will be gracing the occasion. Chairman of the Modi group of industries Umesh Modi has already reached Chandil for the event. “We have added these facilities since the sponge market for sponge iron is going to increase in future,” BSIL officials added.