Nelcast's production touches record heights

Chennai, Feb 6: Nelcast Limited, one of the leading producers of Spheroidal Graphite (SG) iron castings, has registered a record production of 1,02,000 Tonnes Per Annum (TPA) at its two foundries here.

Talking to mediapersons here today, Nelcast Managing Director J Joseph said "inspired by the expansion of automobile industry and the surge in demand from abroad, Nelcast plans to produce more iron casting, raising the capacity to 1,50,000 TPA by 2008 at our two foundries situated at Ponneri in Tamil Nadu and at Gudur in Andhra Pradesh." "We would invest about Rs 25 crore to increase the production capacity," he added.

Citing study reports that automotive components will be one of the fastest growing export sectors in the country, Mr Joseph said Nelcast was planning to move from casting to auto components.

"Nelcast will embark on the development of sub-assemblies, the increasingly prefered choice of manufacturers across various sectors," he said.

"The company's gross turnover was steadily growing, registering Rs 270 crore in last fiscal", he said adding "the exports were currently close to USD five million per annum and was poised to increase to about USD six million in the next fiscal."

UNI