Financial Daily from THE HINDU group of publications
Saturday, Apr 13, 2002
Financial Daily from THE HINDU group of publications Saturday, Apr 13, 2002 |
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Corporate
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New Projects Electrosteel sets up DI shop with Chinese knowhow Our Bureau
KOLKATA, April 12 ELECTROSTEEL Castings Ltd, manufacturers of ductile iron (DI) pipes, has set up a DI fittings shop with technical collaboration from Xinxing Ductile Iron Pipe (Group) Co Ltd of China at Kardah, near here. According to Mr Umang Kejariwal, Managing Director of Electrosteel, the Xinxing casting technology was adopted because it was cheap and facilitated a pollution-free manufacturing process. Moreover, Xinxing has entered into an arrangement with Electro Steel under which it will also market its products abroad. The plant was formally inaugurated by the West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, on Thursday. Electrosteel has invested around Rs 14 crore in the project. Incidentally, the fitting shop has been put up at the closed premises of Calcutta Steel of Bhartiyas, which is adjacent to Electrosteel's DI plant. Electrosteel has acquired Calcutta Steel. The project cost includes the acquistion of Calcutta Steel, the setting up of additional hot metal producing facility and the fitting shop with the vacuum casting lost foam process of the Chinese company. Once the unit reaches full production over the next two years, it is expected to generate employment to 150 to 200 persons. Electrosteel has a conventional DI fitting shop at Elavur near Chennai. Electrosteel is currently aiming at two lakh-tonne DI pipe output and Rs 200-crore exports. It produces pipes with small to large diameters. Electrosteel recently acquired two pipe (both cast iron and DI) units of the Lanco group of Hyderabad.
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