Sujana Towers plans to enter cables, conductors segment

Hyderabad: Sujana Towers Ltd plans to foray into the cables and conductors segment through acquisitions.

Mr Y.S. Chowdary, Chairman, Sujana Group, said that the process of due diligence of a couple of companies was on and a decision would be taken up on the shortlisted companies during the next financial year.

He, however, did not want to comment on the location of these companies or the size that Sujana Towers wishes to acquire.

The company is also in the process of setting up a new facility at Gummidipundi near Chennai with a capital expenditure of Rs 150 crore.

The company, which was formed by the de-merger of tower division of Sujana Metal Products Ltd, completed capacity expansion of the galvanized tower facility at Hyderabad to 1.28 lakh tpa (tonnes per annum) last year.

The Chennai unit, he said, is a flexible manufacturing unit to produce products such as galvanized towers and tower parts for power transmission and telecom sectors, high-mast light poles, railway electrification structures, highway crash guards and other galvanized structures.