Bengal-based steel maker Super Smelters has proposed a Rs 1,000-crore fresh investment in Jamuria, Burdwan, if it manages to acquire adequate land to build a plant. The company is in talks with private owners to purchase land, while seeking approval from the state government to hold it.
“We will need at least 150 acres to build a new plant,” G.K. Saran, chief mentor of Super Smelter, said.
The company predominantly manufactures TMT bars, hot rolled coil, pipes and tubes in the market, apart from pellet and ferro alloys occasionally at Jamuria. The facility is located on 199 acres of land. A group firm, having a plant at Durgapur, also manufactures and sells wire rods. For the proposed expansion, it is looking at adjacent land in Jamuria.
The company plans to diversify into new product lines in the proposed plant. Saran said the investment would be spread over 3-5 years.
The company will also enhance its TMT bar capacity from the present level of 20,000 tonnes to 40,000 tonnes.
Super Smelters is expecting a turnover of about Rs 1,500 crore for the period ending March 2020.
Likewise, the overall group turnover is expected to touch Rs 2,500 crore during the same period, a press release of the company said.
The announcement comes at a time the Indian steel industry is lumbering out of a weak demand scenario. Prices have also started firming up, tailing demand pick up led by the government’s infrastructure push.
