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

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.