Bhushan Steel Ltd proposes to set up a six lakh tonne capacity plant to manufacture value-added steel in Karnataka, at an estimated cost of Rs28,000 crore (about $6.07 billion), the company said in a filing with the Bombay Stock Exchange.
Bhushan Steel, a leading manufacturer of flat and long steel products, operates a fully integrated 1.5 million TPA steel plant and seven state-of-art value-addition units in locations such as Chandigarh, Derabassi, Kolkata and Orissa.
Bhushan Steel is an integrated steel manufacturer operating a value chain right from coal mining, billets, HR coils, pig iron, CR coils, GP/GC, precision tubes, black pipe/GI pipe, cable tapes, Tor steel, wire rod and special alloy steel with an annual turnover of Rs3,873 crore ($950 million).
The company's 1.5 million TPA greenfield steel and power plant in Orissa with HR Coil making plant is the first such facility in private sector in the state.
Technology and equipment for the plane were procured from world-renowned companies like Lurgi of Germany, ABB Ltd, SMS Demag, Siemens etc.
Bhushan is selling its value added range of products in secondary steel through a large distribution network in India and abroad.
Its customers in India include Hero Honda, Honda Scooters, Yamaha Motorcycles, JBM, Bajaj Autos, LML Ltd, Polar Industries, GE Motors, BPL, HMT, GNA group, Hero Cycles, Avon Cycles, Atlas Cycles, Delton Cables, Finolex Cables, Sterlite, Paramount Cables, TBS, Suzuki, Omax Auto, Maruti Udyog Ltd etc.
Bhushan's products are being exported to China, Singapore, Malaysia, Hong Kong, Indonesia, Philippines, Dubai, Oman, Saudi Arabia, South Africa, Thailand, Korea, Myanmar, Sri Lanka, Nepal, Bangladesh, Vietnam, USA, Nepal, England, Belgium, Turkey, Angola, and a host of African countries.