Mumbai: Steel castings manufacturer Indsur Group has bagged an order worth Rs 500 crore from a Mexican firm to supply around one lakh metric tonne of steel plates.
"Indsur Group's US-arm Indsur Stelcore has bagged an order worth Rs 500 crore from a Mexican firm for supplying around one lakh metric tonne of steel plates," the company said in a release.
"Getting such a large order from Mexico amidst stiff competition from Korea and China not only proves our competitiveness but also opens up a huge market for us in Latin America, Middle East and European countries," Indsur Stelcore director and president Amit Lodha said.
The company is confident of making further in-roads in these lucrative markets backed by technologically superior products at competitive prices, he said.
The Mumbai-based firm's casting plant in India is the largest exporter of power infrastructure castings and has a major presence in Europe, the release said.
Indsur has manufacturing plants in steel castings, auto components, pipes, steel and steel-related products and are located in countries like India, UK, and US. It is also setting up a large casting plant in Saudi Arabia, the release noted.
The group recently acquired its second thermal engineering unit, CDA Contracts, through its UK arm Indsur Nevron and also opened its UK-headquarters in Liverpool to support and further strengthen its export and other business activities.