SM Group-TMT GOVVINDA
S.M. Group launches Govvinda TMT Rebar, plans to produce 1,800 tons of sponge iron
Kolkata/IBNS: S.M. Group, an exporter, importer of minerals, ores and steel manufacturer, launched its new product GOVVINDA TMT Rebar and announced plans to expand production of sponge iron to 1,800 tons per annum by Dec.
Chairman & Managing Director of SM Group Manish Khemka said, “Currently we are in a production of 600 ton per day of sponge iron which we aim to increase to 1,200 ton by April and 1,800 ton by December with 50 mgwt power grid.
"In future we are also planning to set up a plant in Purulia, West Bengal and Jharkhand and we are in search of a proper land with water and railway facilities for the same purpose."
"In that plant, we would like to increase our production capacity to approximately one lakh tons per month with a captive pallet turn of three million tons and 600*6 TPD Kilns," he said.
The group currently employs 1,000 individuals but looks to increase the number of direct employees to 4,000.
On the investment front, Khemka said their investment plan is approximately Rs 2,000 – 2,500 crores for the project.
Currently, the company with core competency in exports and mining is looking for 500 acres land for this project.
“Our goal is to be the first choice when one thinks of TMT and emerge as one of the leading TMT bar manufacturers in India," said Neel Mani Singh, VP Business Development, with regards to their latest product addition.
Investment is around 700-800 crores including DRI, TMT everything, he said.
Under its expansion plans, S.M Group has also with its own DRI Unit, SMS Unit, Continuous Billet Casting Mill & Fully Automated Rolling Mill Powered by its in-house Captive Power Plant which runs with rejected coal and waste heat from DRI hence, thus, minimising the carbon footprint and ensuring uninterrupted power supply for production.
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