The expansion of Tata Metaliks Ltd's Kharagpur plant in West Bengal to double the ductile iron (DI) pipe capacity is likely to be completed next fiscal, a senior company official said on Tuesday.
The Tata Group's Rs 620-crore augmentation plans in the state include enhancing the DI pipe capacity by 2 lakh tonne per annum, hot metal capacity by 0.7 lakh tonne per annum and a 15-MW captive power plant.
"We are focusing on the DI pipe segment, which is growing steadily at 8-10 per cent. The project for doubling of DI pipe is underway and would be completed next year," Tata Metaliks Chairman Kaushik Chatterjee said after its AGM here.
Around Rs 403 crore was recently infused into the company through rights issue of shares and warrants, to fund the expansion.
"Pig-iron is now 45 per cent of our turnover and DI is 55 per cent. Once the expansion is complete, the DI share will increase to 75 per cent," Chatterjee said.
Meanwhile, company officials said Tata Metaliks was trying to strike a land deal for its closed unit in Redi, Maharastra.
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