Steel manufacturer Uttam Galva today said it will invest Rs 600 crore in capacity expansion programmes which include tripling auto grade cold rolled steel capacity and doubling overall cold rolled production capacity.The company would double its overall cold rolled steel capacity from 0.5 mtpa to one mtpa by December this year, besides tripling production of its auto grade steel from the current level of 60,000 tonnes per annum to 1,80,000 tonnes per annum, the company said in a release.The auto grade steel capacity would be increased in two phases and in the first phase of expansion, to be completed by December this year, the company would double its production to 1,20,000 tonnes per annum, the release said.The expansion process would be completed by mid 2007 and would see the company's auto grade steel capacity increase to 1,80,000 tonnes per annum, it said."The domestic auto market is growing at the rate of 20% per annum and this expansion would help us meet the growing demand from the domestic market... The expansion would increase Uttam Galva's share in the domestic market and help consolidate the company's position in this segment, Ankit Miglani, director (commercial) of Uttam Galva, said.
