Mahalaxmi Group, manufacturer of steel and TMT bars, plans to set up two new steel making facilities in West Bengal and enter into strategic alliances with other rolling mills to increase production capacity.
The company plans to set up two new rolling mills by next year with an additional investment of Rs 120 crore. Mahalaxmi has three factories in West Bengal in Panagarh, Jangipur and Asansol. The company intends to raise production to over 1 lakh tonne by 2010.
Mahalaxmi is also negotiating with various small to medium, sick and under-utilised re-rolling mills strewn across West Bengal, Bihar and Jharkhand for a strategic alliance.
Source : ProjectsToday
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