SAIL Launches New Yard In Coimbatore To Support MSMEs With Competitive Steel Pricing

ENA MSME 2024-12-11 15:49:02 Coimbatore, Dec 11 (KNN) The Steel Authority of India (SAIL) has launched a new yard in Coimbatore, offering significant relief to the region's Micro, Small, and Medium-scale Enterprises (MSMEs). This yard, located on 3.5 acres in the district, will stock ready-to-purchase steel products and enter into long-term agreements with MSMEs to fulfil their steel supply needs. M. Karthikeyan, President, Coimbatore District Small Industries Association (CODISSIA), emphasised that one of the association's longstanding requests was for SAIL to establish a facility in Coimbatore to meet the small-volume requirements of MSMEs. The agreement will provide units that sign an MoU with SAIL an opportunity to receive a higher discount on steel prices. Last month, there was a Rs 3 increase in steel prices, and local traders often raise prices even with the slightest global change. With SAIL's new yard, MSMEs will be able to procure steel directly at competitive prices, Karthikeyan stated. SAIL has also committed to arranging products as per industry demands and selling them locally. The company has called on industries to sign agreements for their steel requirements through to March 31, 2025. This move comes as MSME manufacturers in Coimbatore have long been advocating for more flexible policies from the National Small Industries Corporation (NSIC) and for the establishment of a SAIL yard in the region, which would provide access to raw materials at more competitive and stable prices. R. Ramamoorthy, Former President, CODISSIA, highlighted that MSME units currently rely on local traders and may have a credit cycle in place. He suggested that SAIL should offer sufficient time for these units to arrange finances and shift their purchasing to the new facility. Ramamoorthy expressed confidence that the new yard would offer long-term benefits to MSMEs, particularly in terms of price stability. However, he also urged SAIL to focus on improving the quality of its products to match the standards set by some private brands. Overall, the establishment of SAIL's yard in Coimbatore is seen as a positive step towards supporting the region's MSMEs by providing them with reliable access to steel at more stable and competitive prices. (KNN Bureau) 40222 https://knnindia.co.in/news/newsdetails/msme/sail-launches-new-yard-in-coimbatore-to-support-msmes-with-competitive-steel-pricing 2024-12-11 15:49:02 knnindia.co.in SAIL Launches New Yard In Coimbatore To Support MSMEs With Competitive Steel Pricing