Rathi Steel and Power Ltd to Invest Rs 50 Crore in Uttar Pradesh

Rathi Steel and Power Ltd is set to invest Rs 50 crore in Uttar Pradesh to establish a forward integration facility. This initiative will convert wire rods into bright bars and wires, targeting the construction and automotive sectors. The expansion aims to enhance the product portfolio and profitability.

Rathi Steel and Power Ltd (RSPL) has announced a significant investment of Rs 50 crore in Uttar Pradesh. The company plans to build a forward integration facility to convert wire rods into bright bars and wires, which are essential in the construction and automotive industries.

This strategic move is expected to broaden RSPL's product portfolio and boost profitability, the company stated in its exchange filing. The existing steel plant in Uttar Pradesh boasts an installed capacity of 200,000 tonnes per annum, featuring a TMT bar mill and a wire-rod mill.

By adding value-added products, RSPL aims to establish a stronger market presence and achieve long-term financial growth.

(With inputs from agencies.)