Captain TMT plans new steel plant

Visakhapatnam: Captain TMT, a steel division of the Kolkata-based Rs 850 crore BMA group producing wire rods and rebars, is planning to set up a new steel unit with an investment of Rs 300 crore.

'Currently, we have two manufacturing units at Kayaneswari and Purulia in West Bengal with a production capacity of 300,000 tonnes per annum each. The new plant will also have a 300,000-tonne production capacity. However, we have not yet finalised the location and need 150-200 acres,' Avinash Agarwalla, director BMA group said.

Captain TMT has a strong presence in Jharkhand, Gujarat, Haryana, Delhi, Rajasthan, Punjab and Andhra Pradesh. It now plans to extend its reach to Bihar, Uttar Pradesh, Maharashtra, Karnataka and Kerala.

In Andhra, the company has 50 dealers and expects this number to go up to 80 in the next 6-12 months.