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Our Bureau

Chennai, March 22

ARS Metals Pvt Ltd, which operates two steel plants in Pondicherry and Gummidipoondi near Chennai, intends to put up a sponge iron plant, after a year, the company's officials told a press conference today.

The company launched the `ARS Power', the brand under which it would sell its thermo-mechanically treated (TMT) bars and cold twisted deformed (CTD) bars, both used for construction. Company officials said that steel bars were produced with the `Tempcore' technology from Belgium. The process, they said, allowed the bars to be quenched in water uniformly, which made them both stronger and more flexible.

This is the company's first year after incorporation. It expects to close the year with a turnover of about Rs 200 crore, officials said. At the press conference, officials also indicated a public issue for raising funds for the sponge iron plant.

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