Gujarat-based Jain Group’s Sona Alloys, which pioneered ship breaking, will be setting up a Greenfield integrated steel plant at Lonand in Maharashtra with an investment of INR 350 crore. A MoU with the Maharashtra government has been signed in this regard. The plant will manufacture 0.3 million tonnes of various grades of steel including stainless steel, alloy steel, mild steel to meet demand from industries including construction, foundries and automobiles. The company will start production by December 2008.
