Somany Ceramics Ltd (SCL), one of the leading tile manufacturers in India, has announced its investment plans to augment its manufacturing capacity at its Haryana unit and setting up a greenfield plant in Gujarat.
The company has earmarked an investment of Rs 45 crore to further increase manufacturing capacity at its Haryana plant from around 30,000 sq meter per day to around 37,500 sq meter per day. Out of the Rs 45 crore, Rs 28 crore will be invested on plant and machinery, Rs seven crore on gas based power generators with heat recovery unit and Rs 10 crore will be used as working capital. With the commissioning of additional manufacturing capacity, the group’s annual turnover is likely to exceed Rs 650 crore by 2011-12 from the present Rs 462 crore.
The company has also acquired 18 acres of land in Gujarat to set up a green field plant adjacent to its existing plant in Kadi.