A steel plant at the Mini Industrial Growth Centre, Gwalthai in Himachal Pradesh was set up by SPS Steel & Power, an arm of Kolkata-based SPS group. The plant was inaugurated by Prem Kumar Dhumal, the chief minister of Himachal Pradesh.
Bipin Kumar Vohra, the chairman & MD of SPS group said, “The total capital investment for this plant stands at around Rs 125 crore and the working capital requirement is around Rs 160 crore. We are funding the expansion through internal accruals and debt. Earlier we had planned to dilute about 10% of our equity but looking at the slump in the market we instead raised Rs 200 crore by joining hands with Kolkata based Surekha group. We are targeting a turnover of Rs 6,000 crore by the end of the fiscal year 2010-11. Last year we registered a turnover of Rs 3,500 crore. While setting up this facility we acquired another company called Suraj Fabrics Industries (Steel division). This new plant is spread over two plots of 8 acres and 16 acres with production capacity of 0.3 million tonne billets per annum and 0.26 million tonne of rolled products per annum. We have approached the Himachal government for acquiring additional 10 acres for setting up a unit for structurals and another two acres for providing housing facilities to our employees. The unit for structurals will cost us about Rs 60 crore. We are also mulling over setting up a cement plant as well as a multi-specialty hospital in Himachal Pradesh.”
With the new set up the SPS group aims to increase the present production capacity to 2 million tonne per annum by 2010.
Credits: FE
I couldn’t get the location of the plant.
author of the article could please mention district name as well.
Investments coming to my dear hill state are a positive sign. Hope Mr. Dhumal takes care of the very reasons HP has been a peaceful and prosperous state alongside.
@ kamal thakur it’s Gwalthai in Bilaspur !!!
Himachal Pradesh has the advantage over many other economically better states in terms of its geographical strata. Its hills have the Tourism potential while its planes adjoining Punjab, Haryana and Uttranchal have the accesibility to the economically resilient hubs; its water bodies crave for Hydro Electricity exploitation
This is in continuation to my earlier comments.
Our representatives in the corridors of Vidhan Sabha, Summer Hill, Shimla need to sit down together (irrespective of their party, politics, cast or creed) and ponder over the potentiality of the resources of our Hill State, which are by far the best in comparison to even the economically better states. Now is the time to rise above trivial issues like “transfers” and make a “progressive road map” for the economic upliftment of Himachal and exploring the mammoth sources available.
Its no time for a layed-back approach, we should streamline the Governmemt Functioning system; take full advantage of globalisation. We don’t need to go outside India in search of systems, there is no dearth of home grown systems which resulted in creating the Business leaders spearheading the World Economic Fora.
For all this there should be an honest and sincere effort to change the thought process. No leader is bigger than the State. Economically healthier the State, bigger the leader. Open your doors to schemes for the Business Groups who have excelled agriculturally and Industrially , not to forget Tourism and Hydro Electric Power.
They say its easier said than done. But somebody will have to say and people at the helm of affairs will have to perform, because they have been sent to perform. Otherwise favour us by atleast conceding that they cannot and give a chance to those who can. I am sure they will be regarded as the builders of Economically Prosperous Himachal Pradesh.
I have a small suggestion for my fellow Himachalis: let us bring a change in our thought process. Lets cosider our Himachal first and prior most then ou home or street or our families. This would automatically bring in the values required for a change in our system. Himachal Pradesh will then be an exampillay State not only in India but also overseas. Lets draw a picture of an Incredible Himachal then only the picture of Incredible India be complete. We want our generations be prosperous and live happily.
HI FRIENDS, BELOW IS THE sps’S COMPLETE ADDRESS WITH PHONE NUMBER, I AM AJAY WORKING IN CHINA WITH STEEL GROUP, SPECIALIZED IN COPPER MOULD PLATES WE SUPPLY TO STEEL COMPANIES_-_-_–AJAY RAJPUT.
SPS Steel & Power Limited
Patch No. 1, Phase II
Mini (Industrial) Growth Centre
Gowalthai, Dist. Bilaspur
Himachal Pradesh
Telefax: (092171) 22171 / 172
please let me know the section available in your plant and pl send me the IS Specification
Dear Sir,
We have had your reference form web page.
We have regular order of steel billet 100x100x6. If you have please quote us best price on CFR Benapole by truck. We can place you very good order regularly, if your price are competitive.
We solicit your quick reply.
Regards,
Imdad
Dear sir,
We can supply regularly HMS Grade 1&2 [ISRI 201-202] to your company. At presant we have 5000.M.T. HMS in our hand from CANADA.
A waiting for your early & positive response.
With thanks,
Rajender Kumar
my self shantanu sarkar here from SPS Group of Company, we are manufacturer of Elegant QST Bars and at preesnt we are holding 2nd possition in India for manufacturing QST Brs. we have 3 stell plant in India, Durgapur, Himachal, Orissa. we are going for structural items also. interested customer please call……….9831670314. Kolkata