Stollberg GmbH, of
Germany has set up a casting flux powder plant in Durgapur, at a cost of Rs. 27
crore. The project has been set up through its 100 per cent subsidiary
Stollberg India.
The project, which
is billed as the State's first 100 per cent foreign direct investment, would
have a capacity to produce 7,000 tonnes per annum of the casting powder and its
auxiliary materials.
The project has
been funded through a mix of equity and external commercial borrowing by the
holding company.
This is believed
to be the first such project from the SKW Mettalurgie AG, which is the holding
company of Stollberg GmbH.