Sintex to invest Rs 410 cr in 4 years
Water tank manufacturer Sintex Industries Ltd on Monday said it would invest Rs 410 crore in next four years for its expansion plan, which includes increasing the capacity for its plastic and textile divisions.
By PTI |
MUMBAI: Water tank manufacturer Sintex Industries Ltd on Monday said it would invest Rs 410 crore in next four years for its expansion plan, which includes increasing the capacity for its plastic and textile divisions.
Informing the Bombay Stock Exchange, the company said it would invest Rs 230 crore on the plastics division, which includes setting up of two new units, while another Rs 180 crore would be for augmenting textiles production capacity.
In the plastic division, the company plans to invest Rs 110 crore towards expanding its pre-fabricated structures capacity by setting up two plants in Nagpur and Kolkata. While the Nagpur facility is expected to be commissioned by November 2006 and Kolkata will go on stream by September 2007, it said.
Sintex also said it would invest another Rs 70 crore towards increasing its electrical accessory manufacturing capacity by 12,000 tonnes by 2007, which is part of the custom moulding business, it said, adding the remaining Rs 50 crore will be routine capital expenditure.
The plastics division had a top-line of Rs 600 crore in 2005-06, and post these expansions, the company will be present in 8 locations.
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"Our plastics business is on a robust growth path, the gradual expansion of our product portfolio and geographical reach will enhance opportunities both in Pre-fabs and in custom mouldings," Sintex Managing Director Amit Patel said.On the textiles front, the company said expansions would be taken up in two phases, with 24 million meters to be added by financial year 2007-08 at a cost of Rs 70 crore in the first phase from the current level of 21 Million meters per annum.
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