Nalagarh Steel Rolling Mills Private Ltd, a Chandigarh-based Rs 100 crore group, would set up a new steel rolling facility in Himachal Pradesh with an investment of Rs 25 crore.

The new facility to be set up soon would enable the company to meet the emerging requirement for steel from the industries in Haryana, Chandigarh and some parts of Punjab.

The company manufactures TMT steel bars and sell it under the brand of 'DevBhumi' and this would be the second such facility at Nalagarh.

With the setting up of this new plant, the company expects over 70% jump in its total turnover at Rs 300 crore in 2008-09 from Rs 175 crore in 2007-08.

In addition to this, the new facility would also facilitate the increasing requirement of steel from state government bodies.