La Tim Metal & Industries Ltd. plans expansion into Industrial Park
MUMBAI, India, March 16, 2022 /PRNewswire/ -- La Tim Metal & Industries (BSE: LATIMMETAL) (Script Code # 505693), a listed company has been in the steel trade since 1987 and deals with Colour Coated Steel Sheets.
La Tim has an un-utilized land parcel in Khopoli - Pali, Raigad district with huge business potential. With the central government's focus on nation-building through infrastructure development, La Tim is delighted to announce Phase 1 of an Industrial Park on 30-40 acres of land parcels on Khopoli - Pali Road.
As far as industrial growth is concerned, Maharashtra is amongst the leading states in the country with Mumbai being the financial capital. Eventually, Raigad will become a hub of industrial growth in Maharashtra with projects, like Delhi – Mumbai Industrial Corridor, Refinery, Pharmaceutical Park, Food Park, and many more industrial projects planned in the near future.
The company's Industrial Park is well placed alongside an existing hub of steel industries including Tata Bhushan Steel Ltd, Asian Colour Coated Ispat Ltd, Uttam Galva Steels, Top worth Pipes and Tubes, Maharashtra Seamless Tubes & JSW Steel Plant, and many more in the nearby vicinity.
La Tim's Industrial Park is strategically located on the main road and is easily accessible from Mumbai & Pune. Furthermore, Khopoli - Pali road has been recently declared as a National Highway, leading to Dighi Port, whose construction is going on at a remarkable pace. The Industrial Park is located at an equidistance from Dighi Port and Nhavasheva Port and is accessible by railway from Roha and Khopoli Railway station.
La Tim is coming out with smaller plots ranging between 1,000 square meters to 4,000 square meters suitable for Service Industries, Warehousing, Small and Medium Scale Industries, and more. The Company is hoping that this will generate additional revenue of around INR 60-75 crores and additional operating profit in the range of INR 35-45 crores. The incremental income will be utilized further to develop another phase of an industrial park and/or value addition to the existing manufacturing unit of the steel division by way of backward integration.
About La Tim Group
La Tim Metal & Industries Ltd manufatures and trades in Colour-Coated Steel sheets. It owns and operates a manufacturing unit in Umergaon, Gujarat, through its wholly-owned subsidiary i.e. La Tim Souring India Pvt Ltd, having a capacity of 1 lakh metric ton per annum and a consolidated turnover of more than INR 410 crore and profit after tax of INR 17 crore until December 2021.
La Tim Group is also in the business of Real Estate and Hospitality.
Its real estate division 'La Tim Lifestyle & Resorts' initiated land trading and real estate development from Panvel and its surrounding areas. Currently, La Tim has a land bank in excess of 1000 acres spread out along the Khopoli - Pali Road (State Highway 92), which is approximately 90 km's from Mumbai and 95 km from Pune.
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