Hyderabad, Aug 22 (UNI) Gautam TMT, the 25-year-old company, has been rechristened as Kedhar Group.
With a current turnover of about 100 crore, Gautam TMT plans to diversify from its present businesses and become a major player in the heavy industries segment, according to a press release here today.
Jindal South West (JSW) Joint MD Siva Sagar Rao, who specially flew down to be present on the occasion, unveiled the group's new logo and identity.
''Steel consumption is continuously on the rise. In developed economies the per capita consumption of steel is very high. The opportunity is immense and with urbanisation levels on the rise, demand should only increase further,'' he said.
Over the next two years, the group will invest about 400 crore in the steel sector, thereby becoming the largest integrated private player of steel in Andhra Pradesh. The investment will be funded by internal accruals and bank loans.
The group also plans to start a school and an NGO named Chrysalis Dimples, which will focus on underprivileged children.
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