Latest News | JSW Group Initiates Strategy to Boost Steel and Cement Sales in Eastern Region
Get latest articles and stories on Latest News at LatestLY. Sajjan Jindal-led JSW Group on Tuesday said it has taken a new strategy that will help double its cement sales and achieve a three-fold jump in its construction steel business in the eastern region.
Kolkata, Aug 25 (PTI) Sajjan Jindal-led JSW Group on Tuesday said it has taken a new strategy that will help double its cement sales and achieve a three-fold jump in its construction steel business in the eastern region.
The company aims at Rs 2,300 crore revenue from the eastern states in the current fiscal through the implementation of the new programme, an official said.
The initiative - JSW One - has been launched to combine the distribution network and supply chain expertise of its steel and cement businesses.
The company has initiated the integrated programme in the eastern region and will expand it to other parts of the country in the next couple of years, he said.
"We aim at selling three million tonne of cement and 2.5 lakh tonne of steel in the current fiscal in the eastern states of the country. We had sold about 1.25 million tonne of cement and 73,000 tonne of TMT bars in 2019-20.
The firm is targeting to include 1,500 dealers under the initiative and achieve Rs 2,300 crore revenue this year," company's VP (sales and marketing) and JSW One head (east) Surjayan Mukherjee said.
Under the new programme, the dealers could act as JSW One sales points for cement and TMT steel.
The USD 12-billion JSW Group said the steel and cement businesses have a common set of customers as these materials are essential for building a home.
The company may come up with a separate logo for JSW One for better identity and visibility, another official said.
The group is looking to engage 1,500 JSW One dealers by the fourth quarter of the current fiscal, he said.
Currently, there are 3,800 dealers in the cement business and around 950 steel distributors and retailers in the region, the official said.
"The new initiative is to leverage our group's distribution, supply chain and product synergies across the steel and cement businesses," JSW Cement managing director Parth Jindal said.
The company is looking to ramp up its cement capacity in the country to 20 million tonne by 2022-23 from 14 million tonne at present.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)