Sona Alloys, promoted by the
Gujarat-based Jain group, recently commenced civil work on mild steel ingots and
cold rolling mill at Lonand in Satara district of Maharashtra. On 18 June 2007,
the company signed an MoU with the state government.
The project entailing an investment of
Rs.300 crore will be financed through bank loan of Rs.200 crore and internal
accruals of Rs.100 crore. The unit will be spread over 130 acres of land. The
company will manufacture three lakh tonnes of various grades of steel including
stainless steel, alloy steel, mild steel to meet demand from industries
including construction, foundries and automobiles. M N Dastur & Company is the
consultant. The project is scheduled for completion by December 2009.
Related Links:
Project profile
prjexcl