Surana Industries to build Rs 473cr steel complex at Raichur

New Delhi, Nov 30 (UNI) Surana Industries Ltd (SIL) today said it will set up an Integrated Steel Complex at Raichur, Karnataka at an investment of Rs 473 crore.

For financing a portion of the project cost the company intend to raise FCCB/ADR/GDR for which its Board will meet on December four.

The company, a part of Rs 2,000 crore Surana group is the leading manufacturer of steel with a large market share in Tamilnadu and in South India.

It has clocked a turnover of Rs 625 crore for the last financial year (2005-2006).

The company possesses a fully operational state of the art steel manufacturing plant at Gummidipoondi, Chennai.

SIL has 12 MW captive power plants at Thirunelvelli that produce wind energy of 3,82,00,000 units of power.

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