Kamdhenu to invest Rs 800cr in 5 yrs to double capacity

Bullish on future prospects for the country's infrastructure sector, leading TMT bar maker Kamdhenu along with franchisees will invest Rs 800 crore to double the production capacity in next five years, its CMD Satish Agarwal has said.

"There are about 69 companies who have our franchise and we together will invest Rs 800 crore to raise our joint capacity from 2.5 million tonne (MT)at present to 5 MT in the next five years. Kamdhenu's own production capacity is of 72,000 tonne," Agarwal said.

He further said the country's infrastructure is growing rapidly. It has opened opportunities for everyone related to the sector, be it a raw material seller or buyer of finished products.

"Government schemes like Housing for All by 2022, Pradhan Mantri Awas Yojana, among others are expected to create an additional demand of 100-150 MT TMT bar," Agarwal, who has over 40 years of experience in the steel sector, said adding Kamdhenu is looking to grab this opportunity.

He said there are low-grade TMT bars available in the market which is a serious concern and requested the builders to do a quality-check before going for bulk buying.

He also invited them to send their TMT bars to Kamdhenu's R&D centre at Bhiwadi for testing whether the material is corrosion free and contains low sulphur.

Set up in 1995, Kamdhenu Ltd has become a leading brand in TMT bars. It has 69 manufacturing units and a distribution network of 6,500 dealers, which the company is looking to increase by 50 per cent with the doubling of production capacity.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)