Steel Strips Wheels to set up a hot rolling mill in Jharkhand

As a part of its backward integration policy, the Chandigarh-based Steel Strips Wheels Ltd (SSWL) is setting up a specially designed hot rolling mill (HRM) at Seraikela, Jharkhand, for rolling of profile bar - a raw material for side ring/lock ring, required for the truck wheel rim. At present, SSWL procures the profile bars from outside source. Steel Strips Wheels will invest approximately Rs 55 crore for setting up this hot rolling mill, which is expected to start production by end of third quarter of 2016.
 
With the commissioning of this mill, Steel Strips Wheels expects substantial saving in its raw material purchase cost. While SSWL will consume 75 percent of its production in-house, the remaining will be sold to other wheel manufacturers in the first 2 years.