Nelcast Announces Increase In Capacity Of Phase II Project In Andhra Pradesh
2018-07-26 Projects Metallurgical Industries Southern India
Nelcast Limited had intimated earlier about the setting up of a Greenfield Project Phase II for the manufacture of iron Casting in Andhra Pradesh. The company further informs that the Board of Directors at its meeting has revised the project cost from Rs. 114 Cr to 153 Cr and capacity from 36000 MT to 42000 MT per annum. The increase is due to changes in the design of key equipments, which requires front-loading of some of the investments. The capacity of the Phase l is 18000 MT per annum and Phase ii is 42000 MT per annum. Thus, the overall capacity of the plant would be 60000 MT per annum. The means of financing would be predominantly from internal accruals and balance by debt/equity. The commercial production of the first phase is expected by the end of Sep 2018 and second phase by Sep 2019. The manufacturing facility is designed with most advanced technology in terms of better productivity & quality.