Essar Hypermart, the retail initiative of Essar Steel, said it is aiming to sell one million tonnes of steel in the current
financial year on account of expansion initiatives.
The company that has a strong presence in West and South
India is now looking to increase network in Northern and Central India that is mainly dominated by SAIL products.
We plan to sell one million tonnes of steel in FY 13. This, we
will do by expanding our network,”Essar Hypermart Chief Executive Officer Ashok Bajpai
told reporters today, on the launch of the company's new retail outlet spread
over an 50,000 square feet area in Ghaziabad. “Essar Hypermart will be
targeting tier II and tier III cities for growth. We will be concentrating on
the North and Central India, as we already have good presence in West and
South,” Bajpai added.
Essar Hypermart aims to make steel available close to the
user point and caters mainly to customers in small and medium (SME) segment.
The company said that it believes that Uttar Pradesh has
immense growth potential as the state has a very strong SME sector.
The company aims to create stock
point every 200 kilo meters across India but it is not possible to give a
definite time line to it, he added.
Essar Hypermart presently has 82
company-owned hypermarts targeting SMEs and 250 express marts, which are
franchise outlets catering mainly to individual customers.
Source: The Economic Times
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