Steel wire maker Ramsarup Industries has lined up a capital expenditure of Rs 775 crore over the next four years.The company has finalised 50 acres of land for its new wire plant in Durgapur. By 2010, the company expects to produce 6 lakh tonne of black and coated wires and 50,000 tonne of downstream wire products.The company expects to achieve a turnover of Rs 5,000 crore and net profit of Rs 500 crore by 2010, Ashish Jhunjhunwala, CMD of Ramsarup Group said after the company's AGM today.The total capital expenditure would be Rs 775 crore, of which Rs 150 crore was earmarked for acquisitions in India and abroad.The company is eyeing another steel project in Durgapur for wires and downstream products for which it would seek special economic zone (SEZ) status. This is part of Ramsarup's expansion plan for 2010, Jhunjhunwala said.Talks with West Bengal Industrial and Development Corporation (WBIDC) for the 250 acre land are already underway.
