Steel manufacturer Sugna Metals launched a new product Sugna Turbo Fe 550.

Managing director of the Hyderabad-based firm, Bharat Kumar Agarwal, said the company currently had 10% of the market share in south India. With the new product, it expects to garner at least 5% more market share.

On the production facilities, he said the company had set-up a plant at Pargi in Vikarabad in 2008 for billet production. Two years later, it installed a straight rolling mill with a capacity of 15,000 tonnes a month of TMT (thermo mechanically treated bars), which is used in construction sectors. Its product portfolio of TMT ranges from 8 mm to 36 mm with grade of Fe-500.

The company is hopeful of growing the turnover from Rs. 460 crore to Rs. 600 crore this fiscal, he said, adding that besides several leading construction companies, the firm supplied products for many government projects, including the 2-BHK project of the Telangana government.

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