One of the largest steelmakers, JSPL plans to ramp up rebar retail operations in order to fortify its presence in Punjab retail market.
Jindal Steel & Power Limited (JSPL) is planning to expand and strengthen its presence in Punjab retail market. The company is seeking end-users with TMT Re-bars for residential & industrial projects in high seismic zones. The seismic area in North requires steel having higher ductility that is not supplied by the local players.
Mr. Ravi Uppal, Managing Director & CEO, JSPL, has stated to media, “In Punjab and neighboring areas, there was a high demand of TMT Re-bars as well as a big room for organized players. Out of total market size of 80 MnT, only 24 MnT TMT Re-bars are provided by market players. Demand for good quality branded steel has increased because of growing awareness among end-users.”
In addition, he urged, the company has 23 stockyards in India and planning to add three more (one for Jammu, North) in order to increase its retail network across India.
The existing stockyard in Ludhiana has surplus capacities and JSPL has a sufficient network of dealers & distributors in Punjab to handle rise in volume of products. After the capacity expansion, it would be able to manufacture 4 MnT pa TMT Re-bars, he mentioned.