Essar Steel Hypermart opens at Jigani

Briefing reporters Essar Hypermart CEO Girish Rao said the hypermart boasts of an inventory of 1,500 metric tonne of steel valued at over Rs 4.5 crore.

The company, he said, had plans to open three much such Essar Hypermarts in Karnataka at Mangalore, Gulbarga and Bijapur by next year.  Once in place these would take the number in State to six with two already existing at Hubli and Belgaum besides Jigani, he added.

These Hypermarts, he said, cater to around 20-25 per cent of Essar Steel’s annual revenues by catering to the demand of small and medium enterprises.  These retail chains are aimed at providing immediate delivery, transparent pricing and guaranteed quality steel products to SMEs, he added.

Besides 150 more such Essar Hypermarts, the company plans to set up 600 Expressmarts and around 5,000 Expresspoints in the next two to three years, he said. Essar Steel is at present selling 100,000 tonne of steel. “We are planning to sell 3 million tonne through retail business”, he said. The firm is looking at closing the year with a revenue of Rs 3,500 crore.