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.
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