Ramswarup Industries fixes Rs 775 cr capex in 4 yrs

Kolkata, Sept 04 (UNI) Ramswarup Industries Ltd, manufacturing hot rolled steel products, has earmarked Rs 775 crore for capital expenditure in the next four years.

Ramswarup is targetting a production capacity of six lakh tonnes of black and coated wire and 50,000 tonnes of downstream wire products by 2010 as part of the expansion plans, Ramswarup group's chairman-cum-managing director Ashish Jhunjhunwala said.

The company has got 50 acres of land in Durgapur for the project, Jhunjhunwala said adding that the company is also planning to set up an SEZ in Durgapur as part of the expansion plans.

The company has kept aside Rs 150 crore out of the total capex amount for acquisitions in India and abroad.

The company is looking at Rs 5000 crore turnover and profit after tax of Rs 500 crore by 2010.

UNI TJP SJC/SRC1816