India's Manaksia Steel Limited (MSL) has increased investments of $84 million to increase the production capacity of cold-rolled steel and color-coated steel products at its plant located in the eastern port city of Khaldiya in West Bengal, the company said in a statement on Friday, August 14.
The expansion project will be implemented in two phases. In the first phase, MSL will increase its cold-rolled steel production capacity by 95,000 tons per year to 31,000 tons per year of coated steel and 90,000 tons of color-coated steel products. As a result, the company's total production capacity will be 175,000 tons, 175,200 tons and 150,000 tons per year, respectively. The first stage is planned to be completed by 2020. 2029-30.
In the second phase, MSL will increase its cold-rolled steel production capacity by another 100,000 tons per year, another 100,000 tons of coated steel, and another 90,000 tons of non-ferrous coated steel capacity. This stage will be completed by fiscal year 2033-34, the company said in a statement.
Meanwhile, in a separate report to regulators, MSL reported consolidated net income of INR 2.26 billion (US$23.74 million) for the first quarter (April-June) of the fiscal year. In 2026-26, the growth was 249 percent year-on-year. The company's total revenue for the reporting quarter was 32.75 billion Indian rupees ($343.26 million), up 51 percent from the same period last year, it said, amid steady demand for high-value-added steel products.
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