ISMT Ltd commences capacity expansion work

Mumbai, May 9 (UNI) ISMT Limited which had announced its tube capacity expansion programme (to 4,75,000 tpa) recently, today informed the Bombay Stock Exchange (BSE) that work on the project has commenced.

In a communique to the BSE, the company stated that it has already placed firm orders for import of the main mill at a cost of Rs 98.64 crore. The company will also be shortly opening L/Cs of Rs 88.78 crore besides making an advance payment of Rs 9.86 crore.

The communique also informed that the company has been able to compress the delivery of this critical equipment to 12-15 months to ensure commissioning during 2007-08.

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