Shyam Steel to set up 100 retail stores in Bihar

PATNA: Private major the Shyam Steel will set up 100 retail stores under dealership module in Bihar in a six month period, a senior company official said today.

The company has decided to expand its retail business in Bihar and accordingly decided to set up the retail stores under dealership module to sell its steel and allied products, its Director Ravi Beriwala told reporters.

Bihar has witnessed economic upsurge in past seven years with construction and infrastructure sectors the catalyst of the ongoing growth story, he said.

There was huge requirement of raw materials in construction and infrastructure sectors with a number of projects lined up for next few years, Beriwala said.

His company has decided to expand business and investment with a long-term goal in view of huge business opportunities in the state.

The Shyam Steel Director said that his company has set a target of achieving a turn over of Rs. 2000 crore at the end of this fiscal as against Rs. 1500 crore and expressed optimism that the expansion strategy will work fruitfully.