In response to the increased demand for processed steel in both the domestic and international markets Mumbai based Uttam Galva Steels Limited (UGSL), the country's leading galvanized steel manufacturer-exporter, has embarked on major expansion plans.

International: To augment its expansion plans UGSL has entered into a JV with UK based trading company Liberty Commodities to build a new steel re-roller mill in Ghana, West Africa. The two firms have set up a new company, Ghana Iron & Steel Co (Gisco) for spearheading this initiative.

The new facility when complete will include a 75,000 tonnes/year Hot-Dip Galvanising (HDG) line and a 200,000-250,000 tonnes per unit cold reversing mill to supply it with CRC. The $20m HDG line is expected to start producing at the end of 2007, while the $40m cold rolling mill is planned for next year. In the short term, until the cold mill is operational, CRC will be exported to Ghana from India and Bangladesh. The HDG produced will be of the ultra thin variety (around 0.14mm) and will be sold mostly in the local market, although some quantity could be sold to other West African states.

Last week UGSL became the first GDR to be listed on the Singapore Stock Exchange. "We are proud to be the first GDR to be listed in Singapore. Singapore is fast emerging as a destination of choice for access to a global pool of funds", said Mr.Rajinder Miglani, Chairman & Managing Director, Uttam Galva Steels Limited speaking on the occasion.

Domestic: Major capacity expansion and modernization is also underway on the domestic front. UGSL will enhance production capacity to one million tonnes of cold rolled steel and 750,000 tonnes of galvanized steel by the end of 2007.

Elaborating on the expansion plans Mr.Ankit Miglani, Director (Commercial),Uttam Galva Steels Ltd, said, "It is our constant endeavor to capitalize on domestic and global opportunities. We are exploring both organic and inorganic routes to grow and enhance value for all our stakeholders. We are continuously expanding our global footprint and consolidating our position in the domestic market."

- End -

About Uttam Galva Steels Limited

Uttam Galva Steels Limited is a one of the largest manufacturer- exporter of cold rolled steel (CR) and galvanised steel (GP) in India. In the domestic market, the company is a major supplier to the automobile, white goods, general engineering and construction industries. Some of its major customers include Bajaj Auto, Bajaj Tempo, M&M, Kirloskar, Crompton, L&T, etc. The company currently exports its products to more than 126 countries including Australia , France, Germany, Greece , UK and USA.

For Further Information, Please Contact:
Rajat Chandihok/ Lalit Pandey
Sampark Public Relations
9810175728 / 9818806924