Rathi Steel and Power Limited, a prominent manufacturer of stainless steel long products, has announced plans to invest up to Rs. 50 crore in a forward integration project at its existing facility in Ghaziabad. This factory will transform wire rods into downstream products such as bright bars/wires, etc.
In the exchange filing the company shared, “This project is a strategic initiative which will enhance capacity utilization by consuming part of its existing production in-house. Additionally, it will enable the company to expand its domain of supply to sectors such as automotive (including EVs and batteries), defence, solar, engineering and household either directly or through B to B customers who will be using these products.”
The project will be carried out in phases at the company’s existing site in Ghaziabad, Uttar Pradesh, depending on technical and commercial feasibility as well as market conditions.
