Finolex Industries to invest Rs 15 cr on expansion
Finolex Industries, a Rs 2500-crore Finolex group company, on Friday said it will invest Rs 15 crore to expand its PVC pipes capacity.
By TNN |
KOLKATA: Finolex Industries, a Rs 2500-crore Finolex group company, on Friday said it will invest Rs 15 crore to expand its PVC pipes capacity.
"We are optimistic about the future growth of the PVC pipes sector and are expanding installed capacity at a capital expenditure of Rs 15 crore," president, Finolex Industry, V V Khandekar told reporters.
The company's annnual PVC pipes capacity will be augmented to 85,000 tonnes from the present 65,000 tonnes. The PVC business of the company is growing at about 24%.
The annual turnover of Finolex Industry is about Rs 1,000 crore and the pipes division contributed about Rs 384 crore in 2005-06. The balance revenues came from a Rs 2.6 lakh resin plant.
"We expect to maintain similar growth rates in the pipe segment this year," Mr Khandekar said, adding that Finolex is focusing on the eastern region in a big way.
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"We have been late in entering eastern India. But are confident of garnering a majority market-share shortly with aggressive marketing. Nationally, we are the market leader," Mr Khandekar said. The company has also introduced advanced UV stabilised plumbing system for leak-proof seals.
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