Minar Group Forays Into Tamil Nadu With New Brand, To Employ 500 People

Kerala-based Minar Group of

Companies on Friday entered the Tamil Nadu market by introducing its new brand Lohind TMT Fe 500 D steel bars in Coimbatore region.

The company wanted to capture the Tamil Nadu market after the success in its home-state and plans to open a manufacturing unit in Coimbatore district at an investment of Rs 150 crore, the company's managing director Mohammed Shafi told reporters here.

The unit would be set up in another six months or one year, he said.

Stating that the manufacturing unit required at least 15 acres of land that been identified on the Tamil Nadu-Kerala border in Coimbatore district, Shafi said the production capacity would be increased to 8,000 to 10,000 tonnes per month in another three years.

There would be job opportunities for 500 people in the proposed integrated steel plant, he said.

The company supplies 6,000 tonnes to the Kerala market with a turnover of Rs 550 crore, he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor