McNally to set up plant in West Bengal
McNaly Bharat Engineering Company Ltd plans to set up a plant in the state at an initial investment of Rs 20 crore.
By PTI |
KOLKATA: McNally Bharat Engineering Company Ltd (MBE), a part of Williamson Magor group, plans to set up a plant in the state at an initial investment of Rs 20 crore.
McNally Bharat chairman Deepak Khaitan told reporters here the company was looking for 25 acres of land near Asansol for setting up its first factory in the state. MBE already has a plant at Kumardhubi in Jharkhand and in Bangalore.
The initial investment would be Rs 20 crore.
Khaitan said the new plant would help in executing turnkey projects for the proposed expansion programmes of various steel plants like IISCO, Durgapur and Bokaro of SAIL.
He said the promoters were keen to increase their stake from the present level of 34 per cent. This would be done at an appropriate time, he added.
During 2006-07, the company recorded a total income of Rs 519.60 crore and a net profit of Rs 17.50 crore. Its order book stood at Rs 1,095 crore.
McNally Bharat chairman Deepak Khaitan told reporters here the company was looking for 25 acres of land near Asansol for setting up its first factory in the state. MBE already has a plant at Kumardhubi in Jharkhand and in Bangalore.
The initial investment would be Rs 20 crore.
Khaitan said the new plant would help in executing turnkey projects for the proposed expansion programmes of various steel plants like IISCO, Durgapur and Bokaro of SAIL.
He said the promoters were keen to increase their stake from the present level of 34 per cent. This would be done at an appropriate time, he added.
During 2006-07, the company recorded a total income of Rs 519.60 crore and a net profit of Rs 17.50 crore. Its order book stood at Rs 1,095 crore.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
