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.
