Chennai, June 17
VIKI Industries (P) Ltd, a secondary steel producer with its plant near Chennai, has started branding the steel bars it makes for the construction industry, a move it hopes will help the company create a segment in the fast-growing sector.
Called `iSteel,' Viki Industries will use the branding initiative to educate customers on choosing the right quality and quantity of steel. The first product under this branding initiative is a TMT (thermo mechanical treatment ) bar. The company will launch other products under the iSteel initiative, including corrosion-resistant steel.
iSteel will also help the company price its products at a premium over the competition from other secondary steel manufacturers, according to Mr G. Gautham Reddy, CEO, Viki Industries.
Viki Industries has its plant at Gummidipoondi near Chennai and has a capacity of 50,000 tonnes a year. It has a 5-megawatt furnace oil-based captive power plant that meets almost 95 per cent of its power requirement. Last year, the company reported a turnover of Rs 70 crore.