Jindal Steel and Power targets 150% growth in UP biz

The company launched its new brand of Thermo Mechanically Treated (TMT) rebars 'Jindal Panther' in UP

Jindal Steel and Power Limited (JSPL) is targeting 150 per cent growth in its steel business in Uttar Pradesh over the next three years.

Against the current sales of about 0.2 million tonne (mt) of steel and steel products in the state, the company is targeting 0.5 mt by 2018.

Besides, JSPL is looking at opening more warehouses and steel processing units in the state to cater to the growing needs of the market.

“Currently, we have four warehouses and steel processing plants in Uttar Pradesh at Ghaziabad, Kanpur, Varanasi and Agra," JSPL Director (Sales and Marketing) V K Mehra said here on Thursday.

The company launched its new brand of Thermo Mechanically Treated (TMT) rebars ‘Jindal Panther’ in the state. TMT rebars are used to provide strength and durability to constructions.

The company claims that the new product is made with superior quality steel billets with a restricted level of sulphur and phosphorus, a maximum of 0.055% to comply with the latest Bureau of Indian Standards (BIS) specifications.

JSPL has a channel network of 41 distributors and 1,700 dealers across 400 districts across Indian states.

The real estate sector has been growing rapidly in UP over the last few years due to both incremental development and some large scale housing and infrastructure projects underway in public and private sectors.

The proposed Agra-Lucknow Expressway, which is being constructed at an investment of about Rs 15,000 crore by the UP government, is also projected to boost the real estate segment in its periphery and route.

Such projects would spur the consumption of materials used in construction, including steel, cement etc.