Arjas Steel to invest Rs 610 crore in increasing capacity to 5.5 lakh metric tons

15 Dec 2022 , 10:56 AM

Arjas Steel, previously Gerdau Steel, announced an investment of Rs 610 crore to boost its yearly production capacity to 5.5 lakh metric tons, an increase of more than 37.5% over its current capacity across its Andhra and Punjab facilities.

The business runs two facilities: Tadipatri in Punjab’s Mandi Gobindgarh and the Andhra Pradesh area of Anantapur. While the Punjab facility, which it purchased in November 2020 for roughly Rs 100 crore, produces 1 lakh tonne annually, the Andhra plant now has a capacity of 3 lakh tonne.

Around 350 crore rupees of the whole investment would go toward expanding the Tadipatri facility, and the remaining 260 crore rupees would go toward Sridhar Krishnamoorthy’s Punjab unit.