Guwahati, Oct. 25: Domestic steel maker Jindal Steel and Power Ltd (JSPL) has forayed into the retail segment with the launch of its Panther brand of thermo-mechanically (TMT) treated reinforced bars in the Northeast market.

“Our strategy is to build this brand (Panther) as a strong retail identity and provide top quality TMT reinforced bars to the end customer and meet their housing and construction needs,” Rohit Choudhri, national head (retail), JSPL, said at the launch of the brand here today.

The TMT rebars are manufactured at the 1.0 MTPA (million tonnes per annum) the company’s Patratu mill in Jharkhand.

“Our TMT rebars have been made with superior quality steel billets with a restricted level of sulphur and phosphorus. Factors such as high strength, bendability and weldability allow the rebars to withstand shock loading and cyclic loading conditions making it ideal for buildings in high seismic zones like the Northeast,” Choudhuri said.

The size of the TMT market in the Northeast is pegged at about 40,000 tonnes per month (Rs 200 crore).

“The Northeast is a potential market and our target, to start with, will be to sell at least 5,000 tonnes per month in the region. We have a two-tier retail model currently comprising 40 distributors and 1,000 dealers in the country. We have set up 20 stockyards so far from where distributors collect the products. Five more, including a two-acre warehouse in Guwahati (next month), are coming up shortly,” Choudhri said.

The steel major, which has an annual turnover of $3.5 billion, is going aggressive on distribution in the region.

“The Northeast currently has three distributors and 50 dealers. But we plan to have at least 125 retailers in the next six months as we build the brand along,” he said.

As part of its service offerings, the reinforced bars procured will be delivered by the dealer at the work site of the customer free of cost.

“We have an innovative product range comprising welded wire mesh and cut and bend reinforced bars. Customers have the option of either buying the bars on weight or on length,” said V.K. Mehta, director (sales and marketing), JSPL.

A part of the $18 billion OP Jindal Group, JSPL has expanded its steel, power and mining businesses in Asia, Africa and Australia.

On whether the company is open to setting up a steel processing unit in the Northeast, “Such a facility in the region cannot be ruled out in the future,” Mehta said.