Rathi Steel to set up plants in Rajasthan & Orissa

Indore, Sep 18 (UNI) Private steel major Rathi Iron and Steel Industries Ltd (RISIL) is planning to set up new steel plants in Rajasthan and Orissa, Company's Director Aakanksha Rathi said today.

Ms Rathi, who is looking after the company's Pithampur plant, said keeping in view the boom in construction industry we have to increase steel production to fulfill the demand. '' In future there would be scope for export of selected products.

However at present, the thrust was on meeting the domestic demand'', she told UNI.

To manufacture steel bars at par with the world's best manufacturing units, the company has technical collaboration with a German company HSE, the developers of thermex tech used for producing TMT bars. With this agreement Rathi Steel has become the only group of north India which has licence to produce TMT bars through thermex technique, Ms Rathi said.

She said the company's market share was continuously increasing in Madhya Pradesh and held the largest chunk of the market.

In a short span of little over two years the company has done remarkably well, she said.The Group has also been planning to invest in power sector. However it's in very preliminary stage, she added.

Regarding the Global Investors Meet, to be held here next month, Ms Rathi said this would likely to be one of the most significant events to be held in the state for attracting investment. She expressed hope that the efforts made by the government and other industrialists will pay off well. It will depend on the number of memorandum of understanding signed during the meet and also on the manner in which the invited participants absorb the business environment of the state.

Ms Rathi said the main sectors likely to get investment were infrastructure, power, agro food processing and retail.

Infrastructure sector was likely to gain the most as MP was still witnessing development in its nascent stage and there was a lot of scope in the sector with more development of the basic infrastructure of the state, she added.

UNI