Business Daily from THE HINDU group of publications
Tuesday, Nov 06, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Nov 06, 2007 ePaper | Mobile/PDA Version |
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Corporate
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New Projects Adhunik Metaliks expansion by March Ambar Singh Roy Kolkata, Nov. 5 The expansion project of Adhunik Metaliks Ltd’s integrated steel plant located at Kuarmunda near Rourkela, Orissa, is expected to be complete by March 2008. Being implemented at a cost of Rs 440 crore, the project envisages an increase in the plant’s manufacturing capacity from 0.26 million tonnes per annum (mtpa) to 0.45 mtpa of special, alloy and stainless steel. The first phase of the project has already been implemented at a capital cost of Rs 250 crore. Captive power plantThe expansion project also envisages the setting up of another 17 MW capacity captive power plant. Adhunik Metaliks already has a 17-MW captive power unit, which is operational. A rolling mill at the plant was inaugurated on November 2 by the Managing Director of Rourkela Steel Plant, Mr B.N. Singh. Speaking to newspersons on the occasion, Mr Manoj Agarwal, Managing Director, Adhunik Metaliks, said the plant was now geared to manufacture automotive and special alloy steel for its customers, who include Tata Motors, Mahindra & Mahindra, Ashok Leyland, Maruti Udyog, Bajaj Auto, and so on. Net up in Q2During the quarter ended September 30, Adhunik Metaliks reported gross sales of Rs 259.16 crore (Rs 195.03 crore). The net profit was at Rs 20.58 crore (Rs 20.20 crore). More Stories on : New Projects | Steel
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