KATHMANDU, Feb 19: Hulas Wire Industries has ventured into TMT steel bars production.
The subsidiary of Golchha Organisation was so far producing wide range of products such as Aluminum Conductor Steel-Reinforced (ACSR) core Wire, copper and brass sheets, cable armoring wire, barbed and chain wire, copper alloy, gabion box, pre-stressed concrete (PC) Wire, razor blade concertina wire, and nickel silver among others.
Hulas Wire has established TMT steel bars production plant in Biratnagar with an investment of Rs 500 million.
Himanshu Golchha, director of Hulas Wire, said the company expanded its product portfolio as the demand for TMT bars in the country is on the rise.
“As the construction of individual homes and bridges is on the rise, we believe it is the right time to invest in the manufacturing of steel bars,” said Golchha. “The market for steel rods will increase as Nepal is in the phase of development and many development activities are in the pipeline.”
The plant in Biratnagar has the capacity of producing 200 tons of steel bars a day. The company, however, plans to produce bars as per the market need.
“We have not used the plant to its full capacity due to power cuts,” Golchha said, adding, “We will start full-fledged production after our products start getting popular in the market.”
The company has already produced 4,000 tons of steel bars as sample products. The product has been distributed in different markets in the eastern region.
Company officials said they have received good response from the customers.
“We will send our products to markets across the country within a week,” said Golchha.
According to Golchha, the company is confident that the product will be popular in the Nepali market as it uses billet that is used only by Tata Steels in India which is of very high quality. “Besides, we have used latest technology in our plant that makes our product superior than existing products in the market,” said Golchha.
The company plans to make price of its products competitive so that customers can get quality products at reasonable price. Hulas Wire has already applied for Nepal Standard (NS) certification for its products.
“We will begin production of steel angle rods and channel rods within two months,” he said, adding that the company is currently employing 120 persons.
The company had exported 25,000 tons of ACSR core Wire and 3,000 tons copper and brass sheet in the last fiscal year.