Shriram Group mulls foray into metallurgical biz in Odisha

: Financial services conglomerate Shriram Group was mulling foraying into the metallurgical business in Odisha by setting up a new plant in that state, company chairman R Thyagarajan said Wednesday.

"We are discussing with the Government of Odisha the possibilities of entering the metallurgical business by setting up a new plant in the state", he said at the Odisha Investors Meet, inaugurated by Chief Minister Naveen Patnaik.

The meet has been jointly organised by the industries department, Government of Odisha and trade body FICCI here.

Thyagarajan expressed the hope that Shriram Group would be able to make significant progress in the next few months in setting up the mettalurgical business in Odisha.

Recalling the company's foray into the state in 2012, he said that in the last six years, business in the commercial vehicle finance had grown to an extent not seen in states where the company has a presence.

Thygarajan said the company has almost 80,000 customers in Odisha and business was growing all the time.

He said the Shriram Group has more than 30,000 policy holders covered under life insurance and about 70,000 in general insurance.