MS Thermex launches TMT steel bars

Ms Thermex (Germany), a joint venture between Hennegsdorfer Stahl Engineering (HSE) Gmbh of Germany, H & K India, and Hyderabad-based Agarwal Foundries Private Limited (AFPL), has launched thermo mechanically treated (TMT) steel bars here on Thursday.

The joint venture was set up in April this year and the production of TMT bars had started from November 18.

According to AFPL chairman Maniklal Agarwal, TMT bars have higher strength than the conventional steel bars and hence would be useful in building high-rise structures. "Though TMT bars cost about Rs 1,000 per tonne more than the conventional bars, the builder can save a lot as his steel utilisation in building structures will be reduced by 20 per cent," he said.

He told newspersons here on Thursday that the 10,000 tonnes per month capacity MS Thermex manufacturing facility was established in Medak district of Andhra Pradesh at a cost of Rs 200 crore. AFPL has entered into a technical collaboration with HSE Gmbh in this regard and would be paying royalty to the German company.

AFPL director Gopal Agarwal said that the company would be setting up a 400 tonne per day (tpd) sponge iron plant, a similar capacity pellets production unit and a 10MW power plant for in-house consumption at a cost of Rs 200 crore during the next three years.

The company was planning to go in for a public issue in a year's span to part finance the proposed projects.