SK Steel Tech to Invest 12 Crores in Induction Furnace Mfg Unit in Bangalore

S K Steel Tech is poised to establish a cutting-edge Induction Furnace Manufacturing Unit in Pemmanahalli, Bangalore, Karnataka. With a planned investment of 12 Crores, this Greenfield project aims to manufacture induction furnaces tailored for the steel industry, boasting a robust capacity of 20TPH. Set to kick off construction in mid-2023, the project is currently in the planning phase, focusing on crucial technical specifications and land acquisition.

This new venture is set to be equipped with state-of-the-art technology, although specifics such as the furnace type, melting power, and automation level are yet to be finalized. Emphasizing compliance with Indian regulations, safety features will be a pivotal aspect of the furnaces. The acquisition of approximately 42.36 acres of land in Pemmanahalli is underway, signifying a commitment to expansion in this region.

S.K. Steel Tech's project will enhance technology and the economy. The initiative should boost employment from 200 to 400. The company's eco-friendly activities and environmental clearing promote sustainability. The official S.K. pre-feasibility study updates the project. STEEL TECH's website and social media updates report project progress.

As on December 2023, The project is now in the stage of receiving approvals. The project has received all necessary clearances. By the end of the year 2023, development on the project will have begun. 

News by Rahul Yelligetti