Ranka Steels to set up plant in Chennai

Bangalore, Sep 23 (UNI) Ranka Steels will spread its wings to neighbouring Tamil Nadu by setting up a state-of-the-art coil processing centre in Chennai, focussing on the booming automobile industry.

Addressing newspersons here, company Director Ashok Ranka said the company, completing 25 years of service in the field of processing Tata Steelium range of cold rolled and galvanised steel products, would invest about Rs 70 crore to Rs 80 crore in the plant. The land for the purpose had been identified and many financial institutions, including banks, have came forward to be associated with the venture, he added.

He said Ranka Steels, which had the distinction of setting the benchmark for maintaining coil processing centre for Tata Steelium products, had set up another plant at Bommasandra in Bangalore which would be inaugurated tomorrow. Introducing cutting-edge technology formed the basis for all its services, be it slitting, cutting-to-length, precision levelling or roll forming.

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