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Varun Industries Limited to set up new Stainless Steel manufacturing Plant |
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Written by Vijay
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Tuesday, 05 January 2010 |
Mumbai: Varun Industries Limited has announced its plans to set up an integrated Stainless Steel cum alloy steel complex at Village Rohat near Jodhpur in Rajasthan.
The plant will be set up in two phases and will comprise facilities for making stainless steel flats and other high quality stainless steel and alloy steel items including rounds, angles, wire rods, channels, structurals and long products. The first phase of the proposed project estimated to cost Rs. 230 crore will have a capacity of 1,20,000MT per annum.
Varun Industries Limited will meet 35% of the finance requirements through its own funds and 65% through long term loans.
The initiative is part of its backward integration plan to be self sufficient in raw material supply in order to improve it's competitive edge. The company is confident that after it has met its own captive needs there will be a steady and growing market demand, which is expected to contribute to its growth and profitability.
This plant is expected to catapult the company into the league of large steel manufacturers. |
