Electrotherm (India) Limited is exploring southern regions, particularly Bellary, Hyderabad and Chennai, for furnace and other products. The company is eyeing Rs 80 crore revenues from these regions in two years, according to Suneel Kulkarni, vice president (marketing).
Speaking to the media, he said these areas had a lot of clients dealing in steel. Electrotherm has over 50 customers in Hyderabad across its product range.
Kulkarni said the company had installed a 40-tonne medium frequency induction melting furnace for making steel billets at Mahalaxmi TMT, Wardha, Maharashtra. This was likely to reduce the cost of production by about Rs 800 per tonne.
The company had six more orders in the pipeline, including two domestic and four overseas, to be implemented in six months, he said.
Besides furnace production, Electrotherm would also undertake turnkey projects for steel plants as it was a technology and equipment provider for steel companies.
Electrotherm’s product range includes melting furnaces, electric arc furnaces and electric scooters. The company is targeting a turnover of Rs 2,500 crore for the current financial year, as against Rs 2,000 crore in 2009-10.