In an attempt to add to its product portfolio, the JSPL has forayed into manufacturing TMT bars thereby announcing its aggressive forays into the retail segment where these bars are largely used in the construction sector. The new product, which is being manufactured at the Patratu facility in Jharkhand, will cater to the requirements of TMT bars in the eastern, northern and central parts of the country Associate Vice-President Marketing Rohit Choudhuri said adding that the product would remain fixed in all markets but the immediate focus, would not be in the southern region because of higher freight cost. In the new segment the player would be competing with the local players as there is a lot of vacuum in the TMT bar category that can be channelized from its current one million ton per annum manufacturing capacity. A new head hardened rail facility (used in Metro and high-speed rails) at Raigarh in Chhattisgarh, as part of its existing unit there, is expected to be operational by January 2014 at an estimated investment of Rs 125cr. In view of the on-going recessionary tendencies, which have shrunk the demand for steel the company is looking to tap the niche and specialize offerings that are currently being imported. Compared to an imported price of Rs 70,000-75,000 a ton buying the same product through domestic manufacturers would entail a cost saving worth Rs 20,000 per ton, he claimed.
India News | For International News click here