The establishment of a new manufacturing plant in Andhra Pradesh will cost a total of Rs 125 crore, according to a statement released by Everest Industries Ltd. The Board of Directors approved a capital investment of Rs 125 crore to establish a new production facility for the steel buildings business through a wholly owned subsidiary or by the company at their meeting on February 20, 2023. The new unit will come up at Gudipalli in Andhra Pradesh or any other appropriate location in South India, subject to the receipt of requisite approvals. The new investment will help the company to enhance its existing capacity of 72,000 MTPA to 1,14,000 MTPA for the Steel Buildings Division. The capital expenditure is likely to be operational by March 31, 2024, and shall be funded through a mix of debt and internal accruals.
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