Usha Martin to increase special steel capacity

Indian Usha Martin Ltd announced its plans to increase its annual special steel capacity to 1 million metric tons from the current 400,000 mts, with an investment of Rupees 12 billion (approx $260 million). The company plans to finance the project through debt equity and internal accruals. Usha Martin produces value added steel products such as wire, wire rope, cord, specialty wire and auto components.