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Our Bureau

New Delhi, July 19

Bullish on the growing trend in the use of stainless steel in various infrastructure projects, Finland-based Outokumpu which was scouting for setting up a 2.5-lakh-tonne cold rolling plant, has changed its plans and decided to set up a steel service and processing centre first.

The company has finalised plans to set up the facility near Mumbai to provide customised steel products.

It is only at a later stage, after the service centre comes into operation, that the company would go ahead with its plans of setting up the cold rolling mill.

The Country Head of Outokumpu India, Mr Yatinder Suri, said, “We are in talks with the Maharashtra State Industrial Development Corporation and a plot of 20 acres has also been identified.”

The project will involve an investment of around Rs 200 crore over the next 15-18 months and the service centre will have a capacity of processing 50,000 tonnes of steel annually, he said.

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