Pune-based SRP Electronica Group, a leading financer for medium and small enterprises and also a manufacturer of machine tools along with being a popular name for its games and entertainment hub, Amigos, has forayed into tungsten metal powder manufacturing by setting up a 10 tonne-a-year plant at Sinnar near Nashik. Tungsten metal is mainly used by the defence industry and by other tungsten product manufacturers. The company is using the solvent extraction process for extracting tungsten from scrap for the first time in India. Commenting on this, S R Pophale, Chairman, SRP Electronica, said, "We are manufacturing tungsten powder which is a basic raw material for our group company Electronica Tough Carb Limited. We would also be marketing the powder to the defence industry and other tungsten product manufacturers."

"Entry into this new business was a logical step and a much-required backward integration process for us, as we have been engaged in making tungsten carbide products for the past 20 years. As a group we have 6,500 customers and have been witnessing 30 per cent growth every year. There is a big requirement of tungsten in the Indian market for industrial applications and for also for the defence industry as it is a strategic material for defence needs. Most of the tungsten is imported from China, so by getting into this business, we have not only tapped a new opportunity but are also doing our bit to give back to our nation," he added. The company has invested Rs 5 crore for this facility. The Indian market size of this material is 150 tonnes per month and the price of tungsten carbide in powder form is Rs 3,500 per kg. The new business will operate under the name of SRP Tungsten (P) Ltd.