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| Surya group aims Rs 5000 cr turnover by 2012 |
| Vimukt Dave / Mumbai/ Rajkot Aug 11, 2010, 00:05 IST |
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Company’s current turnover is Rs 2000 cr
Surya group, one of the leading companies of steel pipes and lighting products is targeting a turnover of Rs. 5000 crore by 2012. The company’s present turnover is Rs 2,000 crore per year.
“In a bid to reach a new turnover target, Surya is investing around Rs 550 crore. The company has started pipe manufacturing at Kutch in Gujarat with an investment of Rs 450 crore. Also an investment of Rs 100 crore has been made at Shimoga in Karnataka where the company will produce both pipes and lighting products. The manufacturing unit for this will commence by next financial year,” said Prateek Singhal, General Manager — Marketing, Surya Roshni Ltd.
The company has steel pipe facilities at Bhuj, Gwalior and at Bahadurgarh. The company manufactures steel pipes at a capacity of 1 million tonnes, which will be doubled in next couple of years. Apart from that, the company’s Bahadurgarh unit manufactures around six lakh tonnes of pipes every year, while the production capacity of Kutch plant is four lakh tonnes per annum.
“The company intends to set up a steel plant in Karnataka apart fsrom infrastructure, cement, power and PVC pipes in the states of Gujarat, MP, Chattisgarh and Uttarakhand. The projected turnover of Surya Group will be Rs 5,000 crore after all the expansions by the end of 2012," said company officials.
Meanwhile, Surya Vijayanagar Steels and Power Ltd, a subsidiary of Surya Roshni, has also signed an memorandum of understanding with the Karnataka government in June this year at the Global Investors Meet to set up a steel plant with an outlay Rs 20,000 crore in Bagalkot district.
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