Mukand Sumi Special Steel Limited, a joint venture (JV) between Indian stainless steel maker Mukand Limited and Japanese construction to chemicals company Sumitomo Corporation, is planning to construct a new steel rolling facility.
The construction of the new facility will commence by mid-2020 at an approximate cost of 600 crore rupees ($84 million).
The new modern fully automated wire rod-cum-bar mill is incorporated with U.S.-based technology company PSM technology that enables accurate dimensional tolerance.
Mukand Sumi Special Steel has already acquired 52 acres of land at Kanakapur Village, Koppal district in Karnataka for the facility.