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 ₹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 ₹550 crore, he added.