BS reported that, after re entering in the realty business, Man Industries has set its eyes on manufacturing of steel with an initial capacity of 1.5 million tonnes to 2 million tonnes per annum entailing an investment of INR 4,000 crore.
As per report, It is open to both setting up a Greenfield facility as well as outright acquisition of an operating firm having that kind of capacity.
Mr Ramesh Mansukhani chairman of Man Industries however said that there is no such proposal yet, but the company is certainly looking for opportunities to enter into the steel business.
Man Industries has recently announced its plans to locate a new manufacturing facility on a 162 acre site at the Little Rock Port, USA with an investment of USD 100 million. Production from the plant will start next year.
