3 hrs ago
Rhetan TMT Signs MOU for 20,000 MT TMT Bars
Rhetan TMT has agreed to discuss supplying steel bars to Bajaj Tubular Products.
The agreement covers about 20,000 metric tonnes over 24 months.
However, this is not a firm order.
Bajaj Tubular will place separate orders when it needs the bars.
Rhetan TMT believes the relationship could be worth Rs 250-300 crore.
This amount is only an estimate and is not guaranteed revenue.
The company also started producing electricity from a 1 MW solar project at its Gujarat factory.
The solar power will be used by the company itself.
Rhetan TMT Limited signed a 24-month MOU with Bajaj Tubular Products for about 20,000 MT of TMT bars.
The proposed quantity is indicative and will depend on individual purchase orders and Bajaj Tubular’s requirements.
Rhetan TMT estimates commercial potential of approximately Rs 250-300 crore over two years.
The estimate is not a contracted order value or guaranteed revenue, the company said.
Rhetan TMT has also begun generation from a 1 MW captive solar project at its Kadi, Gujarat facility.
- Who
- Rhetan TMT Limited and Bajaj Tubular Products Private Limited; Managing Director Shalin A. Shah commented on the arrangement.
- What
- The companies signed a 24-month MOU covering proposed procurement of approximately 20,000 MT of TMT bars.
- Where
- Rhetan TMT is based in Ahmedabad, Bajaj Tubular Products is based in Pune, and the solar project is at Rhetan TMT’s facility in Kadi, Gujarat.
- When
- The proposed supply period is 24 months; the article does not provide a specific signing date.
- Why
- The arrangement is intended to develop a sustained commercial relationship and explore additional business, while the solar project will provide renewable electricity for captive consumption.
Key facts
- Proposed volume
- Approximately 20,000 metric tonnes of TMT bars
- MOU duration
- 24 months
- Estimated commercial potential
- Approximately Rs 250-300 crore
- Order status
- Indicative proposal, not a firm order
- Supply basis
- Individual purchase orders based on business and project requirements
- Solar project
- 1 MW captive ground-mounted solar power project
- Solar location
- Rhetan TMT’s manufacturing facility in Kadi, Gujarat
Sources
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