Hans Ispat will soon start a new stainless steel manufacturing facility in its existing plant at Kutch. The company will also float a 15 mv captive power generation plant to meet the power requirements arising out of the new set-up. | |
| The stainless steel facility will come up on 80 acre land which has already been acquired by the company. |
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| The decision to put up a new stainless steel facility has been made to supplement the company's production of TMT steel bars which is used widely for construction purposes. |
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| The company will be investing Rs 24 crore in the project and is expecting a production capacity of 50,000 tonne per annum. |
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| "The Indian steel industry has been adopting obsolete cold twisted deformed (CTD) technology which was banned in the European markets in the early seventies due to inferior quality. TMT steel bars are of international standards and have been proven to be earthquake-resistant. That is one of the reasons why they would be produced in Gujarat, " said Vijay Kant Kumar, MD, Hans Ispat. |
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| The current plant at Kutch has been built at an investment of Rs 46 crore on a 100 acre land. The power requirements are fulfilled by a 12.5 MW power plant. |
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| At present, the plant has a capacity of 1 lakh metric tonne per annum. The company is also setting up a new stainless steel unit near Bangalore. The plant will be built at a cost of Rs 40 crore with an estimated production capacity of 1 lakh metric tonne. |
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| The company is a joint venture formed by the association of Barnacle Group of Industries and Hans Group. |
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| The decision to set up a plant in Kutch and its current ramping of facilities to include other products in the same plant are due to the Gujarat government's encouragement to entrepreneurs in the state. We are looking at other expansions in the state in the future, " added Kumar. |
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