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Our Bureau

New Delhi, Nov. 27

Chennai based Surana Industries Ltd (SIL) is setting up a new integrated steel complex to manufacture special steels mainly to cater to the needs of automobile sector with an estimated investment of around Rs 473 crore. The company plans to commence production in December, according to a company release.

The company today signed agreement with MN Dastur & Company for its proposed captive power plant and with MITEC for its steel melting shop. It has also signed agreement with Bilashpur-based ECIS for directly reduced iron plant and with Richardson & Crudas for pollution control. The plant would be set up at Raichur in Karnataka and will produce 1.28 lakh tonnes of sponge iron, 1.36 lakh tonnes of liquid steel at the steel melting shop and the rolling mill would have a capacity of 1.32 lakh tonnes annually.

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