Shyam Steel Industries Ltd, a leading steel manufacturer in Eastern India, is foraying into the Southern market by opening a retail network in Kerala and is targeting a Rs 100 crore turnover per year from the state.

In due course if there is good response from Kerala, the company would invest in the state, Govind Beriwal, Director Shyam Steel Industries Ltd, told reporters here.

Kerala has one of the best markets in terms of potential in India for its products and efforts had been on for some time to start retail operations here, he said.

The company, with a national network of 12 branches spread across the country, was confident of touching monthly sales of 2000-3000 tonnes a month and Rs 100 crore turnover from the Kerala market, he said.

Shyam Steel currently owns manufacturing facilties in West Bengal and Orissa. Its products are used in India’s major infrastructure projects and individual constructions throughout the country. The group plans to start a 1.1 MTPA plant at Purulia in West Bengal and a two MT Benefication plant at Orissa for which clearance has already been obtained from IDICOL.

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