Shyam Steel eyes North East

Don't want to miss the best from Business Standard?

Kolkata-based Shyam Steel, a leading steel manufacturer of the country, has ventured into North-Eastern market and plans to establish its retail network in the region within next six months.

The Rs.1,500 crore company is also on an "rapid expansion spree" in eastern India market as well.

"The reason for choosing North-East as the company's expansion initiative is primarily due to the region's impressive futuristic growth. Shyam Steel has been already contributing towards the development of the region by supplying its steel to various infrastructure projects, which include several road projects," said Lalit Beriwala, director of Shyam Steel.

Games village in Guwahati, civil secretariat building in Itanagar and Imphal, judicial academy and national law college in Guwahati are few of the projects from the region where the company had supplied its products.

"Now, with the retail chain, the company will be even better entrenched in the development of the region," added Beriwala.

Beriwala claimed that along with TATA, Shyam Steel was the most trusted retail brand in West Bengal with a network of 550 dealers and distributors, supplying more than 10,000 MT of TMT re-bars monthly to end consumers.

Beriwala also said the company had been supplying steel to defence projects "throughout" North-East and rest of India "for a very long time." He added: "Now we have perceived a very strong demand for such branded or superlative quality steel among North East's retail customers as well. This is specifically the reason why we have decided to market our steel in the North-Eastern retail sector. We will initially do it through a network of about a hundred stockists and dealers under our distributor - Jagadamba Iron."