Steelcast to up capacity to 30,000 tonne by Oct

Capacity expansion to cater to overseas demand

 

Gujarat-based Steelcast Ltd will be raising its capacity to 30,000 tonne by October thereby increasing its quantum of exports mainly to cater to the developed economies, a release from the company said today.

At its Bhavnagar plant, in the state of Gujarat, Steelcast currently runs the unit at 22,000 tonne capacity.

“With this brown-field capacity expansion being over by October 2013, we will be one of the few companies in the world making niche product for mining and construction equipment companies world-wide,” chairman and managing director Chetan Tamboli was quoted as saying.

Steelcast has invested over Rs 100 crore so far in raising its capacity from 10,000 tonne to 30,000 tonne in last three years. In the year ended March, the company had invested around Rs 45 crore, while this fiscal, it will be investing another Rs 23 crore, said the release.

As on March 31, Steelcasts exports constituted 53% of total sales. Company aims to take this up to 65% of total sales by March 2015, the release said.