AMNS India eyes 25 pc share in domestic colour-coated market with new product line
Agencies
Synopsis
AMNS India has launched Optigal Prime and Optigal Pinnacle, a new colour-coated steel product line, targeting infrastructure sectors like airports and railways, aiming for a 25% market share in the next few years.
By PTI
To tap the growing demand for colour-coated steel in India, AMNS India on Friday announced the launch of a new product line to cater to segments like airports, railways and metro projects.
"We have launched Optigal Prime and Optigal Pinnacle, a totally new product range in the domestic steel industry, to cater to this demand. We are targeting sectors like highways, railways, metros, airports with our innovative and sustainable product," he said.
The colour-coated steel segment in India is estimated to be 3.4 million tonnes market at present. The addition of two new specialised Optigal offerings will bring AMNS India closer towards its goal of securing 25 per cent within the next two to three years, he said.
Dhar said that the high-end corrosion-resistant steel has been produced for the first time in India, he said. Until now this product was being produced only in Europe.
The director further said the high-performance steel solutions address diverse climatic and industrial demands. It has been prepared to meet India's evolving needs in infrastructure and construction as it moves ahead with journey of becoming 'Viksit Bharat'.
When asked about reports of India becoming the world's fourth-largest economy, Dhar emphasized the critical role of steel in economic development.
"Rapid construction is not possible without steel. Look at China or South Korea—steel has been the backbone of their accelerated growth. With advanced steel solutions, projects that used to take 3–4 years using traditional methods can now be completed in less than a year,” he said.
AMNS India currently has a colour-coated steel production capacity of approximately 700,000 tonnes annually, with plans underway to increase it to 1 million tonnes in the near future. The new products are being manufactured at the company's facility in Pune, Maharashtra.
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The demand for colour-coated steel is growing in the range of 10-12 per cent in India and AMNS India also plans to increase its capacity in this segment soon, the company's Director & Vice President, Sales and Marketing, Ranjan Dhar told reporters here."We have launched Optigal Prime and Optigal Pinnacle, a totally new product range in the domestic steel industry, to cater to this demand. We are targeting sectors like highways, railways, metros, airports with our innovative and sustainable product," he said.
The colour-coated steel segment in India is estimated to be 3.4 million tonnes market at present. The addition of two new specialised Optigal offerings will bring AMNS India closer towards its goal of securing 25 per cent within the next two to three years, he said.
Dhar said that the high-end corrosion-resistant steel has been produced for the first time in India, he said. Until now this product was being produced only in Europe.
The director further said the high-performance steel solutions address diverse climatic and industrial demands. It has been prepared to meet India's evolving needs in infrastructure and construction as it moves ahead with journey of becoming 'Viksit Bharat'.
ADVERTISEMENT
When asked about reports of India becoming the world's fourth-largest economy, Dhar emphasized the critical role of steel in economic development.
"Rapid construction is not possible without steel. Look at China or South Korea—steel has been the backbone of their accelerated growth. With advanced steel solutions, projects that used to take 3–4 years using traditional methods can now be completed in less than a year,” he said.
AMNS India currently has a colour-coated steel production capacity of approximately 700,000 tonnes annually, with plans underway to increase it to 1 million tonnes in the near future. The new products are being manufactured at the company's facility in Pune, Maharashtra.
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