In a significant development for industrial sector in Kerala, Kairali TMT has made major investment at its Kanjikode factory in Palakkad to expand its production capacity and generate additional employment opportunities. Humayoon Kalliyath of Kairali TMT said the move is part of the company’s commitment to supporting India’s economic growth and addressing the rising demand for steel in various sectors.
“We are increasing our production capacity to two lakh metric tonnes per years at our eco-friendly brownfield unit at Kanjikode. We have made substantial investment to remain at the forefront of the steel industry by continuously improving and expanding our operations. With this investment, Kairali TMT aims to meet growing market demand for quality steel and create over 500 new jobs,” said Humayoon Kalliyath speaking about the expansion project.
Humayoon Kalliyath said the investment was primarily utilised to upgrade existing infrastructure and purchase state-of-the-art machinery and equipment to bolster efficiency and productivity. “By adopting advanced technologies and modern production processes, we have significantly cut down carbon emission at our plant and diversified our product portfolio to cater to evolving customer needs,” Humayoon Kalliyath said adding that the expansion project will also generate additional employment opportunities especially for the youth. “By increasing our production capacity, we will be creating fresh 520 job openings across various roles at our plant,” Humayoon Kalliyath said.
On deciding to invest more in Kerala, Humayoon Kalliyath said the investment aligns with Kerala government’s vision to promote industrial growth mainly to encourage the manufacturing sector in Kerala to generate employment opportunities for the youth. “The infrastructure in Kerala is booming and Kairali TMT wants to play a crucial role in infrastructure development and construction,” Humayoon Kalliyath said adding that Kairali TMT by expanding its production capacity will solidify its position as a key player in South Indian market.
Humayoon Kalliyath said the latest report by Indian Steel Association that foresees a rise in demand for steel in domestic market is exciting for the economy. The report states that the domestic steel demand will grow 7.5 % to reach 128.85 MT this fiscal and it is expected to rise further by 6.3 % in 2024-25. “The vision for progressive development set by both Central and state governments in sectors like transportation, energy, urbanisation and housing will contribute to the growth of not only the steel industry but also other sectors like construction, real estate, retail, banking and automotive. To meet the rising demand in the domestic market, Kairali TMT has already ramped up production and delivery capabilities,” Humayoon Kalliyath added.