October 12, 2008

Ankit Metal unveils expansion plans

It is reported that Kolkata-based Ankit Metal & Power is planning to expand capacity at its existing unit in West Bengal and set up a new unit at Jamshedpur

Mr Ankit Patni MD of Ankit Metal & Power said that "We have huge future expansion plans to double our existing capacity in the West Bengal unit and soon to propagate another vast project in the steel city Jamshedpur."

It will invest INR 250 crore to double the capacity of the Bankura unit in West Bengal to 200,000 tonnes per annum and around INR 750 crore will be invested in a new plant, to come up at Jamshedpur with a capacity to produce 300,000 tonnes per annum of steel.

It has recently invested around INR 120 crore to set up a fully integrated steel plant to produce 100,000 tonnes per annum rolled products with captive production of sponge iron, billets and power at Jorehira of Bankura district. Prior to the expansion, the company had a sponge iron unit operational since October 2005.