Refractories market share leader RHI Magnesita India hopes to reach 40% in four years through acquisitions and new capital expenditures
RHI Magnesita India, the leading refractory producer, is bullish on the steel sector and has set an ambitious goal of 40 per cent market share over the next four years on the back of acquisitions and fresh investment to ramp up its value-added product portfolio. The global leader for high-grade refractory supplies is well-positioned in raw material security, with alternatives to China in case of any adversity due to geopolitical reasons, a senior company official said.
In an interview with PTI, Parmod Sagar, MD & CEO of RHI Magnesita India, said, "the steel sector is in a bullish phase, and steel majors expect India to add at least another 120 million tonnes of capacity over the next seven years.
"We remain the most reliable refractory partners for steel makers due to our backward integration support from our global parent. We have alternate raw material sources in case the China supply chain gets disrupted."
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