The Business Bytes
TBB BUREAU
BHUBANESWAR, MAR 1, 2023
Shyam Steel, one of leading producers and manufacturers of primary TMT Bars plans to expand its dealer distribution network and augment the company’s business operations in the region. Odisha is one of the key markets for Shyam Steel and the brand aims to be the leader in the primary TMT bar segment in the State.
Shyam Steel has around 850 dealer distribution networks in the state and is actively trying to increase its presence in newer territory. The Group has a strong presence in North and East Odisha and now is eyeing to expand its operation in West and South Odisha which includes district like Sambalpur, Jharsuguda, Rourkela, Subarnapur, Rayagada, Gajapati, Koraput, Malkangiri etc., the company said.
Commenting on the development, Shyam Steel Director Lalit Beriwala said, “We have received a very good response from the Odisha market and are looking to expand further our dealership network and business operations in the State. We will be actively engaging with the dealers and make them more aware about our brand and its USP. Shyam Steel Apna Ghar app will also be an added advantage for us to actively engage with our target audience and business partners. Our target is to be a part of every household in Odisha and assist them to build their dream home.”
Shyam Steel with an annual turnover of Rs 4,500 crore is now on a steady expansion mode. The group will be targeting to double its turnover to Rs 9000 crore in the next three years. Currently, Shyam Steel has a production capacity of 0.7 million tonnes a year, and by April 2023, it plans to expand its capacity to 1 million tonnes a year.
