New Delhi, Oct 20 (PTI) Gurugram-based TMT maker KAY2 on Tuesday said it is planning to double its manufacturing capacity to 20 lakh tonnes in the next two years.
Currently, the company under franchisee model produces 10 lakh tonnes of TMT bars from plants spreading over 20 states, the company said in a statement.
In the statement, its Director Sunil Agarwal said, 'With a gradual revival of the economy and unlocking of industries, construction and infrastructure sectors have started showing signs of recovery in demand.' He added that these signals make the company bullish for the coming months. 'We are fully geared to meet the demand and eyeing to double our manufacturing capacity to 20 lakh tonnes in the next two years.' The company did not share any financial details with respect to its expansion plan.
With plans to capture the market, KAY2 TMT said it has come up with a new brand KAY2 Xenox in the market.
KAY2 Xenox offers a unique rib-shape design that strongly bonds with concrete in a hexagonal pattern and ensures a solid foundation and quality of any structure. It makes the TMT bars crucial for construction across earthquake-prone areas.
'The internal angles of the 720-degree hexagon (in the TMT) deliver superior bonding in construction.
'Manufactured using high-grade pure Fe 500 and 500D, it saves up to 20 per cent of steel in construction and delivers a consistent quality as per BIS (Bureau of Indian Standards) standard,' the company said. PTI ABI HRS