Good Luck Steel Tubes plans to set up a greenfield continuous galvanising
plant at Bhachau, near Kandla, Gujarat.
The plant entailing a cost of Rs 120 crore is to have capacity of 1,00,000
tpa to manufacture CR coils, GP/GC and colour coated sheets. The funds will be
met by internal accrual and debt. The company hopes to finalise the financial
closure by March 2011 and the work on the project will commence by April 2011.
The plant is to go on-stream by end-October 2012.