Wednesday
20Jan2010
Steel Strips of India plans feasibility study to set up steel wheel rim plant
Wednesday, January 20, 2010 at 07:42PM Chandigarh headquartered Steel Strips Wheels is planning to do a feasibility study for setting up a steel wheel rim plant in Morocco. The feasibility study is likely to begin in 2010. In case the company decides to go ahead with the Morocco plant, it hopes to begin the construction in early 2013. The company foresees an investment of Euro 20 million (approx Rs 140 crore) in the proposed plant. Recently, the company has bagged an order to supply the full requirement of wheel rims for French car-maker Renault's greenfield plant in Morocco. It is likely to start supplying for this project from the last quarter of 2011 from its Chennai plant.
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