Mahindra Ugine Steel Company has received in-principle approval from its board for incurring a further capital expenditure of about Rs 40 crore for setting up a new production facility at Zaheerabad, Andhra Pradesh. The proposed new production facility is to meet the increasing demand of stamping components of new models/vehicles of Mahindra & Mahindra, in particular and other automotive businesses situated in southern region. The proposed facility is expected to be commissioned in FY 2015-16 subject to necessary approvals.
Mahindra Ugine Steel Company is engaged in the manufacturing of alloy & special steel through Electric Arc Furnace (EAF) route & caters to the automotive, engineering, bearing & other industries. The company manufactures a wide array of products including skin components, underbody components, critical assemblies, chassis components and car body sheet metal (Body in White) parts with a total capacity of 30,000 metric tons.
