A mini integrated steel plant located in Vizianagaram district has launched premium double ribbed TMT bars with resilience to withstand wind speed of over 250 km. per hour.
“Cyclone Hudhud created heavy damage to infrastructure of various industries as the wind speed touched over 200 kmph. We have designed the bars named Mangal 999 in such a way that it can remain unscathed even if the wind speed crosses 250 kmph,” managing director Ashok Kumar Aggarwal and president N. Rath of Maa Mahamaya Industries Limited informed here on Thursday while announcing the launch of new product.
This is the first mini integrated steel plant in Andhra Pradesh, established in 2006 with an investment of Rs. 270 crore on a 100-acre plant at RG Peta in L. Kota mandal of neighbouring Vizianagaram district and the company is expecting good response due to massive reconstruction work post-bifurcation in AP and the plans to develop several smart cities. “The new product costs just Rs.1,000 per tonne above the normal TMT bars,” Mr. Aggarwal told reporters.
The plant has a production capacity of 1.20 lakh tonne per annum with a 20-MW captive power plant. To a question, he admitted due to bifurcation agitation, Cyclone Hudhud and slump in market, they could not do well during current year. The company, which is expecting a turnover of Rs.300 crore this year, is quite hopeful of increasing it to Rs.400 crore plus next year due to projected rise in demand for steel.
Mr. Aggarwal said at the appropriate time, their company wanted to double the capacity with the state-of-the-art technology with an investment of Rs.700 crore to Rs.800 crore.
