Tata Metaliks limited, which is known for its production in domestic pig iron, is expecting a growth of 15-20 percent in its revenue for the fiscal 2008-09.

The
fact was put forward by H M Nerurkar, chairman of Tata Metaliks, that
due to rise in pig iron prices, the company is expected to benefit from
it.

The company had revenue of Rs 1,185 crore during its last
fiscal. In the annual shareholders meet, Nerurkar said that pig iron
prices had been reining at 3,500 rupees a tonne. He further said that
they expect prices to remain firm in the year on stable demand.

Nerurkar
also reported that the company is planning to set up a new plant at its
existing firm at Kharagpur in West Bengal, which provides the facility
to automotive and engineering industries regarding manufacture of
castings.

The company would finalize the investments regarding
the plant in next five to six months. The enthusiast Nerurkar said,
“The Company is keen to enter the casting business in a big way.”

In
the meeting of the Board of Directors of the Company, which was held
recently, an approval for the setting up a sinter plant in Kharagpur
was passed, which would require an estimated investment of Rs 75 crore.