Bellary Steels & Alloys was established in 1984 and promoted by S. Madhava for manufacturing of iron & steel installed through an arc furnace to produce ingots & billets and expanded into backward integration set up sponge iron 2*100 tpd kilns plus re-rolling mill is added for value addition products.
Products manufactured by the company include: Pig Iron - Basic grade & Foundry grade, Billets-of 130 to 160 mm square, length 9 to 12 meters, Sponge Iron ,Rounds, Squares, Deformed Bars, Granulated slag from Blast furnace, Mild Steel, Low alloy grade, Rebars, Cold Heading Quality, Electrode Quality Steel.
Projects undertaken by the company are:
Integrated Steel Plant (ISP)- Inspired by its successful performance and encouraged by the availability of abundant raw material in the vicinity, BSAL has embarked upon a new venture - a most modern Integrated Steel Plant with a capacity of 500000 TPA having a layout provision to expand to 2 MTPA. The plant is now under construction at Bellary.
Thermal Power Plant-On the site of the integrated steel plant a 1x30 MW thermal power plant is also being set up. This plant will meet the total power needs of the ISP and will utilize the blast furnace gas as fuel for its multi-fuel boilers. Coal and furnace oil will be the other fuels. Most of the equipment are already at site and substantial progress has been made on construction work.
12 MW captive power plant-This power plant is being set up at the sponge iron plant site. It will utilize the waste heat of the kiln gases as well as burn coal and agricultural wastes as fuel. Part of the project has been already been completed & commissioned as 2.5 MW plant. The 12 MW turbo generators have been erected.
The company came up with a public issue in 1990 to part finance the cost of modernisation/expansion besides meeting the long term working capital needs. In1997 the company was granted approval to bring in foreign equity worth $39 million amounting to 35 per cent of its paid up capital through four foreign promoters.
The Supreme Court in April 2009 has dismissed Bellary Steels and Alloys Ltd's plea challenging market regulator SEBI's order that has debarred it from the securities market for five years. SEBI has restrained the company from trading in securities for allegedly issuing counterfeit share certificates in contravention of the SEBI Regulations, 2003.