Kolkata: City-based metal company Manaksia Steels is set to invest Rs 800 crore in two phases to expand its manufacturing base in Haldia.Speaking at an international conference on India-Africa Business Linkage, organised by Bharat Chamber of Commerce on Tuesday, the company’s managing director Varun Agrawal said, “In the first phase, we will invest around Rs 400 crore and the rest of the investment will be done in the next phase. The proposed expansion will focus on specialty, including cold-rolled coils and coated steel products.” The MD also sought policy support from state govt.Speaking at the same event, state industry and commerce minister Tapas Roy said Bengal could play a meaningful role in strengthening India’s business relationship with Africa by leveraging its industrial capabilities. “We want to see the participation of Bengal’s industry in African markets, and are encouraging African businesses to consider Bengal as a destination for investments and partnerships. The state govt is ready to facilitate this process,” said the minister.Engaged in galvanising, colour coating and cold rolling of steel products, Manaksia has manufacturing facilities in India and Nigeria. Its business network is spread across Bhutan, Ethiopia, China, Ghana and Kenya.
