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Manaksia forays into steel

Calcutta, Feb. 15: The Calcutta-based Manaksia Groupís has set up a sponge iron plant at Saturi in the Purulia district. West Bengal commerce and industry minister Nirupam Sen inaugurated the plant earlier this week.

According to chairman B. K. Agarwal, Mark Steels would initially make 30,000 tonnes of sponge iron. The capacity would be gradually increased to three lakh tonnes. Gradually the Rs 200-crore project would be developed into an integrated steel unit making two lakh tonnes per annum of steel ingot and 1.5 lakh tonne long products.

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