SS Forgings & Engineering Ltd is planning to invest Rs 200 crore in Sponge Iron project at Madhya Pradesh, Gwalior, by the end of 2008.

This will involve the structural steel creating the infrastructure and value addition. The company will create the funds from the Bank and Group companies.

SSF is one of the oldest company in the minning field, smelting foundry, forging and allied products.

The scrip of the company gained 5 per cent to Rs 5.61 at the close of Friday's trading with over 2900 shares changing hands on the BSE.