Bansal Wire to invest ₹600 crore in Gujarat

Pranav Bansal, CEO & MD of Bansal Wire Industries

Bansal Wire Industries plans to invest ₹600 crore in a greenfield project comprising a 1.8 lakh-tonne induction-based steel plant and a 60,000-tonne low-carbon and stainless steel wire manufacturing facility in Gujarat.

The company has acquired 42 acres at Sanand, near Tata Nagar, for ₹80-90 crore and expects to complete the project by September 2027.

The fresh capex follows its recent investment of ₹550 crore to double its steel wire manufacturing capacity to six lakh tonnes across five units in Uttar Pradesh and Haryana.

The company is second to market leader Tata Steel, which has a wire-making capacity of 6.5 lakh tonnes.

It recently raised ₹750 crore through an IPO to meet its capex and working capital requirements.

Pranav Bansal, CEO & MD of Bansal Wire Industries, said the investment in Gujarat will support backward integration, wherein the company will import steel scrap and produce steel for wire manufacturing.

Bansal Wire has become the first Indian company to produce steel tyre cords, which were largely imported into the country, he said.

Currently, German company Bekaert Industries is the only other manufacturer of steel tyre cords.

With the completion of the expansion, he said the production capacity at the Dadri plant will increase to 4.2 lakh tonnes per annum in the first half of this fiscal, up from 3.6 lakh tonnes.

The Dadri plant caters to high-growth sectors such as automotive, agriculture, power and transmission, construction, and general engineering.

The Dadri facility will produce induction and oil-tempered wire, brass-coated hose-reinforced wire, low-relaxation pre-stressed concrete wire, and tyre cord wire.

These products are expected to meet both domestic and export demand, particularly in critical sectors such as construction, transport, and industrial automation.

The company does not see any major impact from the US tariff and has not received any demand from buyers to reduce prices, said Bansal.

Exports account for 10-15 per cent of overall sales, with the US and Europe being the major markets.

Published on April 10, 2025