India’s Maithan Steel is planning to double the production capacity for its billets and thermomechanical treatment (TMT) rebars by April 2021.
The plant will reach 500,000mt of billet and 400,000mt of TMT bar production after the capacity expansion.
The company’s director Madhur Agarwalla told the media that construction plans were delayed by three months due to the COVID-19 related lockdowns but sales have now returned to 90pc of the company’s revenue before the pandemic, with revenue for FY 20 also expected at 90pc of the sales achieved in the previous fiscal.
Agarwalla noted that Maithan’s market share for construction products was especially big in northeastern India including Jharkhand and West Bengal.
The company operates two plants in West Bengal and also has a sponge iron-producing unit in Purulia. Maithan Steel employs about 1,500 people at its facilities.