Mumbai, Nov 16 (UNI) Surana Industries (SIL), a Chennai-based leading manufacturer of steel and iron, today announced that it has signed an agreement with Beijing Shougang Machinery and Electric, a leading steel company in China.
SIL has placed an order worth US Dollar 14.58 million to the Chinese Company for a bar and wire rod mill for its Rs 473 crore Integrated Steel Plant at Raichur, Karnataka.
Through this agreement, Beijing Shougang Machinery and Electric Company will design, manufacture supply-plant and machinery, equipment with auxillaries, automation and application softwares for the two lakh MT per annum bar and wire rod mill for SIL's new steel plant at Raichur. The bar and wire rod mill is expected to be operational by September 2008.
In a statement, SIL Managing Director Dinesh Surana said, ''We are very happy to be associated with Beijing Shougang Machinery and Electric Company, which is one of the leading players in the iron and steel industry in China. Their professional expertise and their vast experience in this field is one of the primary reasons that we chose them.'' ''With an investment of Rs 473 crore for the Raichur project which is set to become a major steel hub in India, this association is truly a landmark achievement for us. Through this strategic association, we are committed to provide the best to our customers,'' Mr Surana added.