Kerala - Thiruvananthapuram   

Kerala SIDCO signs pact with steel company

Photo: C. Ratheesh kumar

Deal sealed: Former Indian cricket team captain Kapil Dev with Industries Minister Elamaram Karim after an MoU was signed between SIDCO and SRMB Udyog Ltd in Thiruvananthapuram on Monday.

THIRUVANANTHAPURAM: The Kerala Small Industries Development Corporation (SIDCO), a public sector unit which provides infrastructure facilities and marketing support for small industrial units in the State, has signed a memorandum of understanding with SRMB Udyog Limited, a Rs. 450-crore TMT bar manufacturing company, for marketing its products in the State.

Former Indian cricket captain Kapil Dev attended the ceremony here on Monday as this West Bengal-based company’s brand ambassador.

Industries Minister Elamaram Karim, speaking on the occasion, said that the tie-up signalled the beginning of the diversification of Kerala SIDCO’s activities. This State public sector company had been in loss until a couple of years ago, but it had now become one of the profit-making units under the Industries Department, he said.

As per the MoU, corrosion-free TMT bars for concrete reinforcement manufactured by SRMB Udyog would be marketed through 140 outlets of SIDCO across Kerala. The company’s Senior Vice President M.M. Abraham said it hoped to achieve a turnover of Rs.150 crore in Kerala in the next 12 months, ensuring for the State government of revenue of at least Rs.60 lakh.

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