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| Surya to commission Rs 400 crore plant at Bhuj this year |
| BS Reporter / Mumbai/ Ahmedabad Aug 20, 2009, 00:27 IST |
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Surya Roshni, makers of lights and steel pipes, is looking to start production at its Rs 400 crore Bhuj plant this year. The plant, with a production capacity of 200,000 tonnes, will manufacture steel pipes under the brand name Prakash Surya GI Pipes, for oil and water supply in Gujarat, according to company's chairman and managing director, Jaiprakash Agarwal.
The steel pipe producing plant will provide employment to 2000 people. The company has invested Rs 200 crore for the plant and will invest an additional Rs 200 crore later.
"Besides completing the steel pipe plant project in Gujarat, we are also planning a Rs 150 crore expansion at our Gwalior plant in Madhya Pradesh, this year. Our aim is to create 600 jobs in India this year," Agarwal said, at the launch of the company's T5 tube lights under the brand name Surya, in Ahmedabad. The expansion plan will be funded partly through internal accruals and partly through bank loans.
Surya Roshni already has a steel pipe and tubes manufacturing unit at Bahadurgarh in Haryana with an annual capacity of 300,000 tonne. The company with a turnover of Rs 1750 crore, as reported in the last fiscal, is aiming a Rs 5000 crore turnover in three years.
As part of its corporate social responsibility (CSR), the company plans to adopt 500 villages in Gujarat in a year's time.
Out of these, the company has already adopted 100 villages in Bhuj, Kandla and a few near Ahmedabad and are providing them education and health care.
The company's export of steel and lighting products to US, UK, Europe and the Middle East stood at Rs 350 crore last year.
The company has a market share of 25 per cent, which includes its Rs 1250 crore steel pipes segment and Rs 500 crore lighting segment.
"We saw a growth rate of 25 per cent in terms of sales of its lighting products last year and are aiming at a growth rate of more than 50 per cent for our lighting division," Navneet Sharma, national sales manager, Surya Roshni, said.
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