Business

SPS Steel HP unit on stream

NEW DELHI: Himachal Pradesh Chief Minister Prem Kumar Dhumal on Tuesday inaugurated the SPS Group’s steel plant at Gwalthai in the State. The plant, with a production capacity of 1.50 lakh tonnes of billets and 1.20 lakh tonnes of reinforcement bars, includes the steel division facilities acquired from Surahj Fabrics Industries.

According to SPS Group Chairman Bipin Kumar Vohra, the total capital investment in the production facilities stand at Rs. 125 crore, while the working capital requirement has been pegged at Rs. 160 crore. Apart from having the largest mini steel plant in Himachal Pradesh and the largest single brand (Elegant) unit in north India, SPS has steel plants at Durgapur in West Bengal and at Jharsuguda in Orissa, a company statement said.

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