Financial Daily from THE HINDU group of publications
Friday, Oct 25, 2002
Financial Daily from THE HINDU group of publications Friday, Oct 25, 2002 |
|
|
|
|
|
Corporate
-
New Projects Cosmo Films plans new production line Ambarish Mukherjee
NEW DELHI, Oct. 24 COSMO Films Ltd has firmed up plans to install a new production line in its Aurangabad facility with fresh investments of Rs 50 crore which will be funded partially through internal accruals and partially through debts. It will be the ninth production line of the company. The company is currently finalising the details of the financing arrangements, officials said, and added that construction works will be undertaken after the eighth production line with a capacity of 10,000 tonnes, which is currently under construction, goes on stream likely by end of the current financial year. The company currently has an annual capacity of 36,000 tonnes and, according to plans, will have a total capacity of 60,000 tonnes by March 2004, officials said. Meanwhile, it has been able to retire around Rs 30-crore high cost domestic loans with low interest foreign debts. According to officials, domestic loans bearing 14 to 15 per cent interest have been retired with loans from institutions such as Washington-based International Finance Corporation, Rabo Bank and Exim Bank at an average interest cost of 4.5 per cent. The company is also focussing on increasing its exports. It is already supplying to a large number of multinational corporations operating in the country and is currently negotiating with them for supplying its products for these MNCs' foreign operations also. The company's MNC clients in India include soft-drink majors such as Coca-Cola and Pepsi. Efforts are on to become a global supplier for these companies as well as others, officials said.
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|