# Usha Martin plans ₹1,200 crore expansion in Jharkhand

Usha Martin Limited announced a ₹1,200 crore (approx. USD 270 million) investment to enhance power and mining facilities in Jharkhand, aiming to increase overall production capacity to 1 MTPA. The company also completed a ₹3.1 billion modernization at its Ranchi plant, adding 2,000 tons per month of wire rope capacity, and plans a further ₹1.6 billion investment for wire and strand production.

- Type: Expansion
- Announced: 2024-09-30
- Where: Jharkhand, Ranchi, India
- Value: $270.0M (12.0B INR)
- Status: announced
- Capacity: 1 MTPA (million tonnes per annum)
- Products: wire ropes, specialty steel, crane ropes, oil and offshore ropes, plasticated LRPC ropes
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Usha Martin](https://endata.com/companies/34469.md)

## Sources

- [tradebrains.in](https://tradebrains.in/features/steel-stock-in-focus-after-it-announces-1200-cr-capex-for-companys-expansion-and-growth/), 2024-09-30: "Usha Martin Limited has announced plans to invest Rs.1,200 crore (approximately USD 270 million) to enhance its power and mining facilities in Jharkhand, to increase its overall production capacity to 1 MTPA."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.