The group operated in the automotive components sector and in the non-automotive sector. At the end of fiscal 2011 the company had a market capitalization of $1 billion and group revenue in excess of $1.3 billion. The group had an annual capacity of 650,000 tonnes of casting and forging and 92 million machining units. Automobile and Steel Market and Location of Raw Materials for Automobile Sector: With the opening of Indian markets after 1991, India saw a surge in the automotive sector. A gradual shift in international investment to locations with lower operating costs has made India a hub for auto parts manufacturing. The development of the Indian automotive industry has accelerated very rapidly in recent years. This improvement in the breadth and depth of local capabilities has been aided, in particular, by foreign acquisitions. Many international players have ventured into the Indian market, independently and also in JVs. Government policies of export/import duties combined with consumer preferences have made it almost mandatory for automotive companies to establish their assembly lines in India, to cater to Indian customers. India's industrial policy has promoted leading local companies, national capabilities in design, development and engineering from the beginning. This market situation has led to the establishment of many automobile companies in India, and to cater to the automobile assembly plants, many auto parts manufacturers have decided to take advantage of the market conditions. Amtek was one of those companies that established itself very strongly in the market. Similar to many other domestic players, Amtek also purchased raw material (mainly auto steel) from Indian steel companies. Automobile steels were the special alloy steels, the specifications of which were given by the automobile company... midway through the document... in the Karnataka project it cost Rs. 5,000 crores. Amtek has also renewed its earlier MoU with the Government of Orissa. on May 4, 2011 and planned to set up another steel plant of 1 MTPA capacity at Kutnia of Sundergarh district in Orissa with a total investment of Rs 2,441 Crore. Amtek management has moved forward with licensing part of the above projects. They have vigorously planned the pre-execution activities [See Attachment – ​​4 for Tangi project and Attachment – ​​5 for Karnataka project] like techno-economic feasibility report, land acquisition, depositing money for allotment of land, the request for terms of reference from the Ministry of the Environment, the application for water connection, etc. These activities required strong resource mobilization and large capital expenditures. The visible returns of such expenditures were much lower. Slow progress and delays from the government. side has led to a loss of enthusiasm among investors.