Mukand Sumi Metal Processing is planning to set up a wire rods unit at Plot No B22, Lonand Industrial Area, Khandala, in Satara district of Maharashtra.
Sources from the company disclosed to ProjectsToday (PT) that it intended to set up a wire rods unit with a capacity of 1.2 lakh tpa in Maharashtra. With this in mind, the company recently acquired 40 acre of land.
The project cost of Rs 180 crore will be funded through 50 per cent bank loan, 20 per cent from equity, and the remaining 30 per cent through internal accruals. The company is in the process of achieving financial closure for the project.
The required machinery for the project will be sourced from India and abroad. Currently, the company is scouting for a project consultant.
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