Usha Beltron Limited

completed

Usha Beltron Limited is an Indian company which has two main lines of business: (i) specialized steel products, namely wire ropes, wires and wire rods comprising 70% of the company''s revenue; and (ii) jelly filled telephone cables (JFTC). The specialized steel products manufactured by Usha Beltron are high value added, niche products which are often made to customer specifications through labor intensive processes. The company has undertaken a series of vertical integration projects and in the next phase, it proposes a US$24 million project for: (i) adding a 7.5 MW waste heat recovery based co-generation power plant to an existing 25 MW captive power plant; (ii) setting up a direct reduced iron (DRI) plant with a capacity of 100,000 tpa; and (iii) facilities for manufacturing more value-added products in wires and strands and bright bars. The company also plans to restructure debt worth US$25 million and replace it with long term debt.