Usha Martin set to invest Rs12 billion

KOLKATA — Usha Martin Ltd yesterday said it would invest Rs.12 billion over the next four years to increase its speciality steel capacity to one million tonne per annum from the present level of 360,000 tonnes.



By (IANS)

Published: Wed 2 Aug 2006, 10:15 AM

Last updated: Sat 4 Apr 2015, 2:02 PM

"This is as part of our target to be the largest speciality steel (wire and rope) producing company in the world by 2007-08," Usha Martin chairman B.K. Jhawar said at the company's annual general meeting here. It currently stands second in the field.

"The project will be completed in two phases. In the first phase, speciality steel capacity will be expanded to 0.5 million tonne over the next two years," the company's joint managing director P. Bhattacharya said. The company has earmarked Rs.4.62 billion for the first phase, he added.


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