Natl. Steel&Agro

Natl. Steel&Agro

National Steel & Agro Industries Ltd earlier known as National Steel Industries a Ruchi group company co-promoted by Madhya Pradesh Audhyogik Vikas Nigam to manufacture galvanised plain (GP) and galvanised corrugated (GC) sheets and coils set up a GP/GC plant with 40000-tpa capacity in 1987 in technical collaboration with Cockerill Works Belgium. The capacity has since been expanded to the present 130000.Galvanised sheets manufactured by the company are used in building and construction automobiles appliances and agriculture and are marketed under the Peacock brand. Exports are done through international trading companies based in Singapore Malaysia and Europe. The products are ultimately sold in West Asia West Africa Sri Lanka Bangladesh Burma Vietnam Ghana Zambia and Kenya.A unit for cold-rolled steel sheets and coils was set up in 1992-93 in technical collaboration with three world leaders -- CMI Belgium; Stein Heurty France; and Phoenix Works Belgium. The cold-rolling mill started commercial production from Sep.'94 and caters to its GP/GC plant.The company's fully computerised galvanising line incorporates the world's latest Dagal process comprising superior surface cleaning and preparation techniques. It also has facilities for computer-aided annealing followed by hot dip galvanising in a zinc bath. The resultant products adhere to Indian and international standards such as ASTM JIS DIN and BIS.The company increased its installed capacity to 130000 TPA for manufacturing G.P./G.C.Coils/Sheets & to 120000 for C.R.Coils/Sheets in 2000-2001. Since the demand for the Steel is very much optimistic the company is in the process of setting up a Color Coating Plant and also expand its production facilities by 100%. The above said expansion and is expected to go streamline in the second half of the financial year 2004-05. The project is being financed by way of term loans and further issue of share capital. During 2002-03 the company has issued 1187000 RCP Shares at par to NRI and Bodies Corporate on private placement basis to part finance the above said project.