Coal, Mining & Metals and Ores

Sandhar Technologies, part of Sandhar Group, is planning a metal castings manufacturing project at Village Poonapalli, dist. Krishnagiri, Tamil Nadu. The company has floated IPO to raise funds for the project and proposes to utilize Rs. 517 million out of the net proceeds for the project. The facility will manufacture machine painted die casting parts including brackets, brake panels, hubs and lock bodies for automobile and non-automobiles and wheel rim assembly and will have an estimated built-up area of approximately 85,000 sq. ft. STP, ETP will be set up. The company may consider raising bridge financing for funding the project, pending receipt of the net proceeds of the issue, if required. Around 3.37 acres of land has been acquired and further land is under acquisition. Civil work is expected to commence in March 2016 and production is expected to commence by end of 2016. [Info as of: Nov. `15]

India \ Tamil Nadu