Sujana Metal plans Rs 800 crore billet unit

Sujana Metal Products Ltd is planning a capital expenditure of about Rs 800 crore for setting up a steel billet unit. The company is working on a plan to raise funds with a combination of debt and equity.

Sujana Metals is into manufacture of secondary steel and the backward integration plan is for setting up a unit to make steel billets for its rolling units located in the state. The company currently has units in Hyderabad, Visakhapatnam and Chennai with a total capacity of about 5 lakh tonnes. The company for the last year reported annualised revenue of about Rs 2,200 crore with a profit of about Rs 40 crore.