MPIL Steel Structures
Ltd, a leading turnkey
solution provider for
metal building products
and integrated structural steel
fabrication, has planned to set
up a manufacturing plant each
in Gujarat and Rajasthan.
Priyanka Gupta, Executive
Director, MPIL Steel Structures
Ltd, told Projectmonitor,
"We have not found land in
Gujarat yet but we are still
looking. It can be anywhere in
GIDC. This plant will be for
structural steel. The proposed
plant in Rajasthan will also be
for structural steel. We are hoping
that one of our facilities,
either in Gujarat or Rajasthan,
will be a special facility for
solar mounting structures due
to the proximity to solar farms."
Together, the Gujarat and
Rajasthan plants will require an
investment of around
200
crore. Out of this, around
110
crore will be for the Gujarat project
and the remaining for the
Rajasthan project.
On being probed about completion
timeline, Gupta said that
it would not take too much time.
In GIDC, there was single-window
clearance and once the
company selected land, the rest
would follow quickly, she
explained, adding, the plant
would go live within six months
after land acquisition.
The Gujarat plant will happen
first in approximately six months
to one year's time, while the
Rajasthan plant will follow
around 18 months later.
Since the company's Tarapur
plant capacity is currently fully
utilised, it intends to shortly
inaugurate its new plant in Karnataka,
which is spread over 23
acres and has 60,000 tpa capacity
of finished structural steel.
"The immediate plan is for the
Karnataka plant to go live in all
phases," Gupta said.
For the Karnataka project, the
company chose the traditional
debt route. For the Gujarat and
Rajasthan projects, the company
is open to private equity and
other investment options to see
what works out best.