It is reported that Indian specialty steelmaker Mukand Limited is planning to set up a stainless steel wire manufacturing facility near Nashik at a total investment of INR 300 crore. The proposed facility, which will be set up at Sinnar area of Maharashtra Industrial Development Corporation, is expected to be operational in the next 12 to 15 months.

A Mukand official said that "With an aim to meet the market demand, the company is setting up a steel wire manufacturing facility at Sinnar. It has already acquired 44.65 acre of plot from MIDC at Sinnar and will shortly commence construction there. The proposed facility will cover a built up area of 15,000 square meters and company's investment in this project will be around INR 300 crore."

Mukand Limited is a multi product, multi division company involved in the manufacture of specialty steels, heavy machinery and in the construction of highways. It is a leading supplier of alloy steel to the automobile and auto component industry and a leader in the manufacture of high grade stainless steel in India.