New Delhi, Nov 16 (UNI) Steel and iron manufacturer Surana Industries Ltd (SIL), part of Rs 2,500 crore Surana Group, today said it has awarded a 14.58 million-dollar order to the Chinese leading steel firm Beijing Shougang Machinery&Electric Co Ltd.
The Chennai-based SIL has placed the order for the Bar and Wire Rod Mill for its Rs 473 crore Integrated Steel Plant at Raichur in Karnataka with a capacity to produce 1,28,000 tonnes of sponge iron, 2,25,000 tonnes of steel melting shop and two lakh tonnes of Rolling Mill annually, along with a 35 MW captive power plants.
''With an investment of Rs 473 cr for the Raichur project which is set to become a major steel hub in India, this association is truly a landmark achievement for us. Through this strategic association, we are committed in providing the best to our customers,'' SIL Managing Director Dinesh Surana said.
Under this deal, the Chinese company will design, manufacture supply-plant and machinery, equipment with auxillaries, automation and application softwares for the two lakh MT per annum Bar and Wire Rod Mill for SIL's new steel Plant in Raichur.
The Bar and Wire Rod Mill is expected to be operational by September 2008, a statement said.
The SIL had clocked a turnover of Rs 778 crore for the financial year 2006-2007 with a net profit of Rs 30 crore.