Ankit Metals plans Rs.10 Bn capacity expansion
Kolkata: Ankit Metal and Power Ltd (AMPL) plans to invest Rs.10 billion over the next three years to increase its production capacity, a company official said here Thursday.
"We have huge expansion plans to double our existing capacity in West Bengal and also to set up another project in Jamshedpur," said Ankit Patni, managing director of the company.
The company will invest Rs.2.5 billion to double the capacity of the Bankura unit in West Bengal to 200,000 tonnes. A new plant with a proposed investment of Rs.7.5 billion is to come up in Jamshedpur with a capacity to produce 300,000 tonnes of steel, he added.
AMPL Thursday launched Ankit TMT Bars in Kolkata. "The TMT bars will be channelised through direct marketing," Patni said on the occasion.
The company has also roped in film actor Mithun Chakraborty as its brand ambassador.
Ankit TMT bars have features like ductility, toughness, high-elongation, weldability and bend-ability. The bars are manufactured using raw material (billets and ingots) and have gone through 19 stages of production process.
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