IVRCL sets up new Steel Fabrication unit to tap multiple growth

Mumbai, Mar 20 (UNI) Power division of IVRCL Infrastructures&Projects is setting up a Rs 10 crore new steel fabrication unit near Nagpur in this state to tap multiple growth in works related to power transmission and distribution.

''Steel Fabrication and Galvanization unit for manufacture of transmission-line-tower-parts of an installed capacity of 24,000 metric tonne per annum is being set up at Butibori Industrial area at an estimated cost of Rs 10 crore on a plot of 23 acres,'' the company informed the BSE today.

The unit will save on cost and improve the margins, the company said.

The land has already been acquired and erection of machinery too has commenced. The unit is expected to commence production during the third quarter of 2006-07.

The Power Division of the company which accounted for negligible turnover during 2003-04 improved to Rs 32 crore for the financial year 2004-05 and to Rs 320 crore for the current financial year 2005-06.

The turnover from the power division is expected to double during the financial year 2006-07, the company said.

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