Usha Martin is planning capacity
expansion at its steel manufacturing capacity at Jamshedpur in Purbi Singhbhum
district of Jharkhand. The project will entail an investment of Rs.1,200 crore.
The steel capacity will be increased
from existing 3.2 lakh tpa to 1 million tpa within a period of three to four
years. Around 6 lakh tpa of finished steel will be sold to automobile and engineering companies,
while the rest will be value-added internally into wire rope and
wires.
Out of the total project cost, around
Rs.200 crore has already been raised through GDRs, and warrants issued to
promoters. Another Rs.500 crore will be raised through internal accruals while
the balance Rs.500 crore will be tied up.