Manaksia Steels will invest Rs 800 crore in two phases to expand its manufacturing plant in Haldia, with the proposed facility focused on specialty steel products such as cold-rolled coils and coated steel.
The company’s managing director, Varun Agrawal, announced the investment at an international conference on India-Africa Business Linkage organised by the Bharat Chamber of Commerce on Tuesday. He said the first phase would involve an investment of around Rs 400 crore, with the remaining amount to be deployed in the next phase.
“In the first phase, we will invest around Rs 400 crore and the rest of the investment will be done in the next phase. The proposed expansion will focus on specialty, including cold-rolled coils and coated steel products,” Agrawal said.
The announcement places Haldia’s industrial facilities at the centre of the company’s planned expansion in higher-value steel processing. Manaksia Steels is engaged in galvanising, colour coating and cold rolling of steel products, activities that convert steel into products for specialised industrial and construction-related applications.
The company has manufacturing facilities in India and Nigeria, while its business network extends across Bhutan, Ethiopia, China, Ghana and Kenya. The proposed investment also comes as Bengal seeks to deepen industrial and commercial links with African markets, according to statements made at the conference.
State industry and commerce minister Tapas Roy said Bengal could contribute to stronger India-Africa business relations by using its industrial capabilities. “We want to see the participation of Bengal’s industry in African markets, and are encouraging African businesses to consider Bengal as a destination for investments and partnerships. The state govt is ready to facilitate this process,” Roy said.
The company’s managing director also sought policy support from the state government, although the report did not specify the nature of the assistance requested or provide a detailed implementation schedule for either phase of the project. The announcement likewise did not disclose the expected production capacity, land requirement, employment generation or commissioning timeline.
For Haldia, the investment adds to the port-linked industrial base that supports manufacturing and processing activity in the region. However, the immediate announcement establishes the proposed investment and product focus rather than confirming construction milestones or operational commencement. The next stage will depend on the company’s phased execution and the policy facilitation discussed at the conference.
