Business Update31 May 2024, 02:08 am
Beekay Steel Industries Ltd Plans Expansion of Cuttack Unit with Rs. 720 Crores Investment
AI Summary
Beekay Steel Industries Ltd has announced plans to expand its Cuttack Unit in Odisha, India. The expansion includes plant configuration and production capacity enhancement. The proposed expansion includes additional capacity for Sponge Iron (2X500 TPD), Ferro Alloys (29 MVA), Rolling (1,20,000 pe), and Steel Melting Shop (2X12 MW). The total investment for this expansion is estimated to be around Rs. 720 Crores, which will be financed through a combination of debt and internal accruals. This expansion is deemed to be material information as per Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015.
Key Highlights
- Beekay Steel Industries Ltd plans to expand its Cuttack Unit in Odisha, India
- The proposed expansion includes additional capacity for Sponge Iron, Ferro Alloys, Rolling, and Steel Melting Shop
- The total investment for this expansion is estimated to be around Rs. 720 Crores
- The expansion will be financed through a combination of debt and internal accruals
- This expansion is deemed to be material information as per Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015