Press Release1 Oct 2024, 05:05 pm
Rathi Steel to Expand Product Portfolio with Rs. 50 Crores Investment
AI Summary
Rathi Steel and Power Limited plans to invest up to Rs. 50 crores to set up a forward integration project at its existing facility in Ghaziabad. This project will convert wire rods to downstream products like bright bars / wires, enhancing capacity utilization and expanding the company's domain of supply to sectors such as automotive, defence, solar, engineering, and household. The project will be implemented in phases based on technical and commercial feasibility and market conditions.
Key Highlights
- Rathi Steel to invest up to Rs. 50 crores in a forward integration project.
- Project to convert wire rods to downstream products like bright bars / wires.
- Strategic initiative to enhance capacity utilization and expand supply domain.
- Target sectors for supply expansion include automotive, defence, solar, engineering, and household.
- Implementation in phases based on technical and commercial feasibility and market conditions.