BWR to invest Rs. 500 cr in new plant in MH

December 17, 2012 12:56 pm

Bharat Wire Ropes is to invest Rs. 500 crore in a new plant at Chalisgaon, Maharashtra, to expand its total manufacturing capacity to 76,000 tonnes.
“The Chalisgaon project will be a state-of-the art with integrated pickling, patenting galvanising, wire drawing, stranding, and closing — all under one roof,” said Promoter and Managing Director, M.L. Mittal.
The total cost of the Chalisgaon project is pegged at Rs. 490 crore. This would be funded by term loans of Rs. 330 crore from banks, a fresh capital infusion of Rs. 140 crore by promoters and private equity players and Rs. 20 crore through internal accruals.