ARS Steels and Alloy International Pvt. Ltd. (ARS Group) is all set to commence the operations of its expanded capacity of TMT bars by June, said founder and MD Ashwani Kumar Bhatia.
“We recently received environmental clearance for the ₹100-crore Gummidipoondi expansion project,” he told journalists.
“Though there was a delay of more than two years in getting necessary clearances, there is no cost over run, as we had already imported the necessary equipment. The plant will go on stream by June,” he said.
The city-based manufacturer of TMT bars proposes to double the production capacity of furnace from 1.4 lakh tonnes to 2.8 lakh tonnes and rolling mill from 1.80 lakh tonnes to 2.5 lakh tonnes.
The company hopes to close FY24 with a turnover of ₹900 crore and touch the ₹1,000-crore mark in FY25.
On Monday, ARS Group unveiled a new product – ARS CRS 550D – a highly corrosion and earthquake resistant bar for all type of constructions, “born out of insight gathered during quality awareness campaign held throughout Tamil Nadu in recent months.”
“While products of this specification already exist in the market, they are used only for large scale constructions due to high costs. However, we are bringing this into the market at affordable costs as we have the technology for it,” he said.
Mr. Bhatia also said that the company was planning to add 12 more technical vehicles equipped with spectrometer to undertake quality testing of TMT bars across the State, taking the total number of such vehicles to 25.
