Indsur Global to invest Rs 200 cr for expansion

Casting and auto component maker Indsur Global plans to invest around Rs 200 crore over the next few years to fund its expansion plans, including doubling of capacity at its plants in Vadodara, Aurangabad and China.

The company produces a wide range of steel pipes, wires, castings and copper wire rods.

"We plan to invest around Rs 200 crore over the next few years for doubling capacities in the existing plants as well as setting up new manufacturing facilities in the country," Indsur Managing Director SM Lodha said.

The auto gear plant at Aurangabad has a capacity of 1,50,000 pieces, which the company wants to increase to 2,50,000. Besides, it also plans a new gear unit close to the upcoming Mahindra & Mahindra's tractor plant at Zaheerabad in Andhra Pradesh, he said.

On expansion and modernisation of its core insulator casting business in India and China, Lodha said, "We plan to enhance the existing capacity of 7,500 tonne at Halol in Baroda (Vadodara) to 18,000 tonne, and 7,500 tonne in China to 15,000. The expansion will be completed by next March."

The company is also in the process of setting up an auto components plant at Halol.

On the plans for its steel pipes business, he said, "We have our pipes business in the US through our company Indsur Stelcor, which caters to the oil and gas sectors. We are also in talks with companies in Saudi Arabia."

The company is expecting a 100% growth in its revenues in 2012-13. "The expansion plans will be in place by next March and we expect to double our revenues to Rs 450 crore," Lodha said.