KKN Group to diversify into steel making

Kolkata based KKN Group is planning to venture into steel manufacturing by end- December 2009.

The group is likely to begin operations at its newly acquired Poddar Forging in Bhadrak in Orissa. It has already invested Rs 65-70 crore in the steel company where it intends to manufacture TMT bars, and iron castings required primarily by the railways, electricity boards, wagon builders, automobile units and related sectors.
This apart, the group is planning to invest Rs 250 crore across its various product categories by 2011. It plans to expand its presence by venturing in Gurgaon, Bangalore and Mumbai and for this it is likely to partner corporate houses such as Spencers’ Retail, Big Bazar etc.