Stelco Strips announced on Wednesday a capital expenditure plan involving an outlay of nearly Rs 650 million to set up color coating line, optimization & sophistication of plant operations got approval by the board of directors.
Under first phase of this program, colour coating line will be added adjoining to company`s existing production facilities at G.T. Road, Doraba with an outlay of nearly Rs 350 million for the manufacturing of colour coated sheets, the company said.
While under second phase of this program, Rs 300 million has been embarked for optimization and sophistication of plant operations including setting up of manufacturing facilities for high tensile straps. It will enhance the customer base & overall competitiveness of the company, the company added.
Shares of the company declined Rs 0.4, or 1.75%, to settle at Rs 22.45. The total volume of shares traded was 15,436 at the BSE. (Wednesday)
Source: IRIS (
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