Kolkata: Shyam Steel on Wednesday announced its plan to expand retail operations in Jammu & Kashmir and Punjab as the 3,000-crore company is aspiring to become one of the leaders in the primary TMT bar segment in north India.
The steelmaker has embarked on the expansion mode despite disruptions caused by the COVID-19 pandemic and will strengthen its distribution network for TMT bar, a construction material.
"We are on a major expansion drive to revamp our retail business operation across the country. We are starting our expansion in Jammu & Kashmir and Punjab which have huge growth potential. The policy shift of the government will boost development and help the industry grow in the Kashmir region," Shyam Steel director Lalit Beriwala said.
The company also plans to expand its footprint in Himachal Pradesh and Haryana.
The TMT bar manufacturer said its retail operations have been expanded to Kathua, Samba, Udhampur, Reasi, Rajouri, Poonch, Doda, Ramban, Baramulla, Srinagar, Pulwama, Shopian, Ganderbal and Budgam in Jammu & Kashmir.
"We are looking to become one of the leaders in the primary TMT bar segment in North India," he said.
The company will look to create a base of 5,000 MTs through 500 retail outlets covering Punjab, Jammu & Kashmir, Himachal Pradesh and Haryana in north India.
Shyam Steel has roped in Olympic medallists boxer Lovlina Borgohain and India hockey team captain Manpreet Singh as its "Build India" brand ambassadors, in addition to Bollywood actor Sonu Sood.
These associations will help elevate the brand value of Shyam Steel in the markets, the company added.
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