Steelcast to invest Rs. 100 crore [June 2012]

Gujarat-based steel castings manufacturer, Steelcast to invest around Rs. 107 crore for expanding and upgrading capacities so as to cater to the surge in demand coming from the domestic as well as global markets.
The company plans to invest around Rs. 65 crore in expanding production facilities at its Bhavnagar plant in Gujarat. In the first phase the steel castings manufacturing capacity will be raised to 30,000 tpa in 2012-13 from 24,000 tpa as of March 31, 2012. In the second phase, the company plans to enhance the production capacity to 38,000 tpa in 2013-14.
According to a company statement, “Steelcast will spend about Rs. 25 crore on machining activities. Company will spend another Rs. 10 crore on equipment for energy conservation and around Rs. 6.5 crore on environment & pollution control measures”.
Speaking about the expansion plans, Chetan Tamboli, Chairman & MD of Steelcast said, “The entire investment of Rs. 107 crore will be funded through long term debt, internal cash accruals and advances from customers.”

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