Major investment in wire unit expansion
Monday, Dec 22, 2008
The Indian Steel and Wire Products (ISWP) is set to launch a Rs 20-crore expansion program. The company, which was revived by Tata Steel in 2003, aims to become the leading producer of metal wire in eastern India. At a program organized to commemorate five years since Tata Steel took over ISWP, company chairman Partho Sengupta said that they would come up with a new TMT mill and procure wire drawing machine (GF1) from the steel giant’s wire division, based at Borivali in Mumbai. The new TMT mill would come up at a cost of Rs 6 crore. The company proposes to invest another Rs 14 crore to procure the wire drawing machine.
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