HYDERABAD: Sujana Towers Ltd. (STL) plans to make a foray into the cables and conductors segment by acquiring units in the space.
Sujana Group Chairman Y. S. Chowdary told a press conference here on Friday that the process of due diligence of two companies was on and a decision would be taken on the short listed companies in the next financial year. STL was also in the process of setting up a new facility at Gummidipundi near Chennai (Tamil Nadu) with a capital expenditure of Rs. 150 crore. “Likely to be commissioned in September with an installed capacity of one lakh tonnes a year, it will augment the overall capacity by 80 per cent”, he said.
V. S. R. Murthy, group director, said the company would produce galvanised towers and tower parts for power transmission and telecom sectors, high-mast light poles, railway electrification structures and highway crash guards.
The Hyderabad unit had completed capacity expansion of the galvanized tower facility here to 1.28 lakh tonnes per year last year.