Gontermann to increase capacity

Cast and forged rolls maker Gontermann-Peipers (India) Ltd plans to invest `300 crore in its proposed 1.2-million-tonne steel plant in Chhattisgarh, and `150 crore in its planned national multi-commodity exchange, MD, Mr Lalit Kumar Poddar, said on Wednesday. The Ispat Group-promoted company will work out the mode of funding the `450 crore capex plan, and debt to equity ratio after getting all the necessary regulatory approvals. ―For the steel project, we have already signed a memorandum of understanding with the Chhattisgarh government, and we need about 50 acres being acquired, Mr Poddar said.