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Steel unit set for upgradation
14 August 2010: Industries Minister Elamaram Karim is likely to inaugurate a Rs 4.7-crore modernisation project of the Steel Industrials Kerala's foundry unit shortly.
The government-funded project will increase the unit's production capacity to 2,400 tonne of value-added casting annually. the project included infrastructure development (Rs 142 lakh), mechanisation (Rs 178 lakh) and allied ancillary development (Rs 150 lakh). It was expected to bring an annual turnover of Rs 17 crore.
The modernised unit will provide direct employment to 250 persons and indirect employment to equal number. The unit will manufacture graded and value-added castings like fly-wheel, engine base, cylinder block, machine body and gears.
Source: Hindu