Financial Daily from THE HINDU group of publications
Tuesday, Mar 21, 2006
Financial Daily from THE HINDU group of publications Tuesday, Mar 21, 2006 |
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Corporate
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New Projects Industry & Economy - Power IVRCL setting up steel fabrication unit Our Bureau
Rs 10-cr plant to commence in third quarter of 2006-07
Hyderabad , March 20 IVRCL Infrastructures & Projects Ltd is setting up a steel fabrication and galvanisation unit. The new unit is intended to further save on cost and improve the margins. The company has been reporting significant growth in power division. The unit would manufacture transmission-line-tower-parts of an installed capacity of 24,000 tonnes per annum. It would come up on a 23-acre plot at Butibori Industrial Area near Nagpur with an estimated investment of Rs 10 crore. The factory would be using latest technology with a mix and match type CNC and manual machines in an environment compliant to IMS (Integrated Management System). The unit is expected to commence production during the third quarter of 2006-07. The power division, which accounted for negligible turnover during 2003-04 improved to Rs 32 crore for the financial year 2004-05 and to Rs 320 crore for the current financial year 2005-06. The company attributed the increase in turnovers to the thrust given by the Government for transmission of power to villages under Rajiv Gandhi Grameen Vidyutikaran Yojana. The company expects the turnover from the power division to double during the financial year 2006-07.
Related Stories: More Stories on : New Projects | Power
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