Business Daily from THE HINDU group of publications
Friday, Nov 30, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Nov 30, 2007 ePaper | Mobile/PDA Version |
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Corporate
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New Projects Government - Policy Mega project status for Jindal SAW unit Mumbai, Nov. 29 The expansion project of Jindal SAW Nashik Unit has been accorded the status of the ‘Mega Project’ by the Maharashtra Government. Jindal SAW Ltd is a part of the $10-billion OP Jindal Group. Under the expansion programme, the present annual capacity of the Nashik unit is being augmented from 75,000 tonnes of finished tubes to 220,000 tonnes. A PQF (Precision Quality Finishing) mill is to be imported. A cold mill is under commissioning and the total expansion is to be completed by August 2008. With the approval as Mega Project, the Nashik unit will be eligible for industrial promotion subsidy under the Package scheme of incentives – 2007. This will help the unit to be more competitive in the market since major portion of the investment gets covered with the subsidy. The Nashik unit, at the Sinnar Malegaon MIDC, is engaged in the manufacturing of seamless tubes for application in petroleum, automotive sectors and numerous other segments such as boilers and hydraulic cylinders. – Our Bureau More Stories on : New Projects | Policy | Steel
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