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Bansal Wire to invest ₹6B in a Gujarat-based steel and wire plant.
The plant will boost domestic supply and create employment.
Part of a broader effort to localize steel wire production.
Bansal Wire Industries Ltd is making a significant foray into Gujarat's industrial sector by investing ₹6 billion in a state-of-the-art steel and wire manufacturing plant. This strategic move is aimed at increasing domestic production capacity and reducing reliance on imports, aligning with the government's Make in India initiative.
The upcoming facility will focus on producing high-quality stainless steel and alloy wires catering to various industries including automotive, construction, and general engineering. The new plant is expected to generate hundreds of direct and indirect employment opportunities, boosting the local economy.
According to company officials, Gujarat's investor-friendly policies, robust infrastructure, and proximity to ports were key factors influencing the decision. This marks a major milestone for Bansal Wire as it scales operations to meet the growing demand for specialized steel wire products in both domestic and export markets.
The project is currently in the planning phase, with construction set to commence later this year and full-scale operations expected by 2026.
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