Usha Martin to start Rs 40cr tyre-bead wire project in Ranchi

New Delhi, Nov 12 (UNI) Usha Martin Ltd, manufacturer of speciality steel, has entered into a joint venture with Germany-based Gustav Wolf to set up tyre-bead wire manufacturing facility in Ranchi at an outlay of Rs 40 crore.

The project to be build up in two phases with the knowhow of Gustav Wolf will have the capacity to produce 30,000 tonnes of tyre-bead wires per year.

The first phase of the Tyre-bead project with 15,000 tonnes per year capacity would be commissioned in 18 to 24 months.

''The unit will predominantly meet the domestic demand for the tyre-bead wires,'' Usha Martin's Joint Managing Director P Bhattacharya said.

Usha Martin and Gustav Wolf already have a Joint Venture on wire rope in Dubai and on steel cord for belt reinforcement in India.

The company also announced plans to enhance cord production capacity to 3,600 tonnes per year from the current level of 2,400 tonnes per year.

Both the products would be manufactured in the expanded facility in Ranchi, Mr Bhattacharya said.

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