New Delhi, Aug 30 (PTI) TMT bar manufacturer Shyam Steel on Tuesday said it plans to double its turnover to Rs 9,000 crore in the next three years.

The company clocked a turnover of Rs 4,500 crore in 2021-22.

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Shyam Steel group director Keshav Beriwala told reporters here the company will pump in Rs 1,500 crore to set up a 0.35 million tonnes per annum plant to manufacture TMT bars in West Bengal and has already got 600 acres of land from the state government for the same.

Besides, the company will also ramp up the capacity of its present plant in Durgapur from present 0.7 million tonnes per annum to 1 million tonnes per annum which will happen in the beginning of the next financial year.

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The company will also expand its retail network in Delhi NCR, Haryana, Punjab, Rajasthan, Jammu and Himachal Pradesh.

Shyam Steel, a primary TMT Bar manufacturer, has four integrated steel plants in Durgapur, Mejia, Bamunara and Howrah.

The company recently launched Shyam Steel Apna Ghar app to provide consumers hassle-free purchase of TMT bars and to boost the sales of their dealer distributor network.

(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)