Surana Industries appoints M N Dastur & Co, MITEC as consultants
01 Dec 2006
Chennai: The city based Surana Industries Limited (SIL), which is setting up an integrated steel plant in Raichur, Karnataka has appointed M N Dastur & Co as consultant for its 30 MW captive power project. The steel company has also hired MITEC for its steel melting shop, the Bilashpur based ECIS for the DRI plant and Richardson & Crudas for pollution control.
The proposed Raichur steel plant will have capacity to produce 1.28-lakh tonne of sponge iron, 1.36-lakh tonne of steel melting shop and-1.32 lakh tonne of rolling mill annually. Karnataka government has provided 164 acres land in Raichur for this project, out of 300 acres promised.
According to managing director, Dineshchand Surana, the Rs473 crore integrated steel project is being set up mainly to cater to the needs of the booming automotive industry. The plant is expected to be operation in December 2007. The company is considering an option of a FCCB, ADRs or GDR issue to part fund the project.
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