Rathi Steel Invests Rs 50 Crore in UP for New Facility

Oct 01, 2024 20:19

Rathi Steel and Power Ltd (RSPL) will invest Rs 50 crore in Uttar Pradesh to set up a facility converting wire rods into bright bars and wires for the construction and automotive sectors.

Photograph: Amit Dave/Reuters

New Delhi, Oct 1 (PTI) Rathi Steel and Power Ltd (RSPL) on Tuesday announced it will invest Rs 50 crore in Uttar Pradesh.

The company will set up a forward integration facility to convert wire rods into bright bars and wires, which find application in the construction and automotive sectors, RSPL said in an exchange filing.

The addition of value-added products will broaden the company's product portfolio and help boost profitability, it added.

The company's steel plant in Uttar Pradesh has an installed capacity of 2,00,000 tonne per annum (TPA), comprising a TMT bar mill and a wire-rod mill.

Source: PTI

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