October 14, 2008

Global Smelters to increase SS capacity

Informatics (India) Ltd reported that Global Smelters Ltd is increasing the capacity of stainless steel plant to 0.4 million tonnes per annum from 0.1 million tonne per annum at Hamirpur in Uttar Pradesh.

As per report, the plant will come up on 35 acres of land with an investment of INR 150 crore. The expansion will be funded through loans from Punjab National Bank and Allahabad Bank. Around 15% of work is complete and the remaining would be over by Dec 2008.