Steel Strips plans Rs 90cr plant in Hosur

Steel Strips Wheels is planning to set up a three million per annum steel wheel rims manufacturing plant in Hosur with an investment of Rs 90 crore.

According to a release issued by Steel Strips Wheels to the NSE today, the board cleared the proposal to set up the steel rims manufacturing plant for passenger cars and multi utility vehicles.

"The company is exploring options of preferential allotment/IPO/loans/internal accruals to meet the project cost," the release added.