Man Industries eyes steel manufacturing

Man Industries, they said, is most likely to set up a greenfield plant for entering into the steel business and make very high-grade of the commodity, but it will all depend uopn the availability of mining leases.        

"If it fails to get any lease, Man Industries will go for either overseas or domestic acquisitions," they said.        

When contacted Man Industries Chairman Ramesh Mansukhani, however, said that there is no such proposal yet, but the company is certainly looking for opportunities to enter into the steel business.        

 

Getting into the steel busienss was not entirely unexpected for the company since it is an established player in pipe making with an annual capacity of one million tonne in its two manufacturing facilities in India located at Anjar, Gujarat and Pithampur, Madhya Pradesh.        

The company has also recently announced its plans to locate a new manufacturing facility on a 162 acre site at the Little Rock Port, USA with an investment of $100 million. Production from the plant will start next year.