September 08, 2008

Usha Martin embarks on INR 2,100 crore CAPEX plan

PTI reported that Usha Martin Limited has embarked on an INR 2,100 crore expansion plan to ramp up capacity to 1 million tonne.

Mr Prasant Jhawar VC of Usha Martin Limited said that the capacity would go up to 700,000 tonne from the present 325,000 tonne by November 2008.

Mr P Bhattacharya joint MD of Usha Martin Limited said that out of INR 2,100 crore, Usha Martin has already spent INR 800 crore on expansion and other work including adding up power plant capacity, development of coal mine, steel melting shop and blooming mill.

He said with all the facilities coming up within this fiscal, the company was expecting a positive growth in its business plan and eyeing a turnover of INR 3,500 crore. He added that the capacity would touch 1 million tonne by 2009-10.