Manaksia Coated Metals to Invest Rs 315 Cr to Boost Gujarat Capacity
4 Oct 2024 3:27 AM IST
The Hyderabad-based firm aims for significant production increases in galvanised and pre-painted steel products, driven by strategic expansions. (Image: Twitter)
HYDERABAD: Hyderabad-headquartered Manaksia Coated Metals and Industries Limited, a listed entity which is into manufacturing of coated metal products, said it has plans to invest about Rs 315 crore in phases to enhance its capacity at its unit in Gujarat, said Sushil Agrawal, company managing director.
Addressing a press conference here on Thursday, he said the growth will be driven by enhanced capacity resulting from the alu-zinc conversion, new colour coating line (Phase 2), and the Phase 3 expansion that consists of the cold rolling complex and a second alu-zinc coating line.
The galvanised steel coils capacity will increase by 36 per cent to 1.8 lakh MTPA in FY25 and by 100 per cent to 3.6 lakh MTPA by FY27. The pre-painted steel coils capacity will increase by 170 per cent to 2.36 lakh MTPA by FY26.
The company also announced that it had secured a contract worth $ 24 million (about Rs 200 crore) from a European client. The agreement includes supply of 20,000 metric tonnes of pre-painted steel coils, alu-zinc coated steel coils, and galvanised steel products over the next 12 months.
The galvanised steel coils capacity will increase by 36 per cent to 1.8 lakh MTPA in FY25 and by 100 per cent to 3.6 lakh MTPA by FY27. The pre-painted steel coils capacity will increase by 170 per cent to 2.36 lakh MTPA by FY26.
The company also announced that it had secured a contract worth $ 24 million (about Rs 200 crore) from a European client. The agreement includes supply of 20,000 metric tonnes of pre-painted steel coils, alu-zinc coated steel coils, and galvanised steel products over the next 12 months.
( Source : Deccan Chronicle )
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