Manaksia plans Rs 115 cr investment to expand

New Delhi, Feb 11: Manaksia Ltd, engaged in manufacturing of value added metal products and metal packaging products, said it has proposed to expand its aluminum and steel business through purchase of capital equipment with an investment of Rs 115.5 crore.

The plan included purchase of certain equipments for its aluminium rolling line at Haldia to produce higher value added products as well as improve the efficiency of its present production, a company statement said.

It also included purchase of equipments for speciality alloy plant and additional machinery for steel cold rolling plant at Haldia.

For this purpose, the company will soon enter the capital market with a public issue of 15,500,000 equity shares of Rs 10 each hrough 100 per cent book building process.

The company has fifteen manufacturing units in the country and three abroad (two in Nigeria and one in Ghana) across its product range with multiple manufacturing units for certain products.

These facilities are located in various states including West Bengal, Andhra Pradesh, Madhya Pradesh, Assam, Gujarat and Dadra and Nagar Haveli.

The various projects being undertaken by the company in the current fiscal includes 12,000 MTPA aluminum colour coating line in Kutch, 12,000 MTPA aluminum colour coating in Ota, Nigeria, Lead and Copper alloy ingots plant in Migeria, 50,000 MTPA cold rolled coils plan at Haldia and 24,000 MTPA steel galvanising plant in Nigeria.

UNI