Surya Roshni to spend Rs 500 cr on diversification

NEW DELHI: Lighting products and steel pipes maker Surya Roshni will invest Rs 500 crore in two greenfield projects to diversify into high mast towers and street light poles besides expanding its pipe business.

The high mast tower and street lighting plan will be set up in Gwalior with an investment of Rs 100 crore. The company���s subsidiary Surya Global Steel will spend another Rs 400 crore to develop a steel pipe plant in Bhuj (Gujarat). Both the plants are expected to be operational this fiscal.