Chennai, Jun 5 (UNI) Sujana Metal Products Limited (SMPL), a part of Sujana group of companies, today announced plans for massive augmentation of capacity, expansion of facilities and location of greenfield projects, involving a total investment of Rs 1,600 crore.
Addressing a press conference here, Mr Y S Chowdary, Chairman of Sujana Group of Companies, said the capacity augmentation, acquisition and expansion were part of the company's strategy to achieve the capacity of one million tonnes per annum of finished products by 2010.
He said the company had acquired Sree Ganga Steels in the city, Saritha Steels in Visakhapatnam and Glade steels in Hyderabad. SMPL had also taken up a massive programme for modernisation and expansion of acquired units and its existing facilities in the city and two other locations.
The company was scaling up the capacity of its TMT plant in the city from 1.40 lakh tonnes per annum to 2.30 lakh tonnes per annum.
''The company was also setting up a ready to use TMT plant with 60,000 tonnes capacity in the city and another plant with similar capacity in Hyderabad for value addition,'' he said.
''The rapid expansion plan undertaken by SMPL has uniquely positioned the company with the widest range of long steel products in the country," Mr Chowdary said.
The capacity addition in Chennai, Hyderabad and Vizag would enable SMPL to cater to the fastest growing realty and infrastructure markets in south, he added.
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