Texmaco Engineering has floated an entity - Sundareshwar Alloy and Stainless
Steel (SASS) - to promote various projects in Tamil Nadu.
Texmaco is likely to invest Rs 2,200-crore to set up greenfield plants to
manufacture agro and industrial machinery apart from alloy steel, forging and
other auto components. The projects are to be set up by SASS in Madurai and
Sivaganga districts.
Around 500 acre has been earmarked for the alloy steel project at Melur in
Madurai which is to have a capacity to produce three lakh tonne of alloy,
special and stainless steel.
In Sivaganga, 100 acre have been assured to SAAS to set up its forging unit.
The ground-breaking ceremony is expected to take place by mid-April 2010 and the
plant will go on-stream in two years time.