India’s Everest Industries Limited (EIL) has decided to invest an estimated $15 million in setting up a new manufacturing facility for production of steel building components, a company official said on Wednesday, February 22.
The official said that the manufacturing plant would be constructed through a subsidiary of EIL and located in southern India, and that it would take the company’s production capacity from 72,000 mt to 114,000 mt per year.
The new manufacturing facility has been scheduled for completion by March 2024.
EIL is engaged in production of various steel building products like roofings, claddings, floorings panels, boards and pre-engineered steel buildings.