Financial Daily from THE HINDU group of publications
Saturday, Aug 28, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Outlook


Praj Industries plans to enter Europe

Our Bureau

Pune , Aug. 27

SETTING up an export-oriented unit, ramping up the IT-enabled engineering business, charitable trusts and entry into the Europe is the route that Praj Industries has chalked out for the current fiscal.

Talking to presspersons, Mr Pramod C. Chaudhari, Chairman, said the company has set up an export-oriented unit in Markal near Alandi in Pune, commissioned 10 days ago.

This unit has a capacity to manufacture 800 tonnes of stainless steel/copper equipment. It has invested Rs 1.5 crore for setting up the unit. Majority of the exports would be handled from the new unit. The company has another unit in Sanaswadi, which has a manufacturing capacity of 2,000 tonnes of stainless steel/ copper equipment from where the exports are being currently handled. Mr Chaudhari said the company is also setting up a wholly owned subsidiary to ramp up its IT-enabled engineering business, for which the board has given its consent.

The subsidiary would handle software-enabled IT engineering for its current distillery domain. The subsidiary is expected to be fully operational by December.

Mr Chaudhari said that the company has already taken steps to establish a trust called the Praj Foundation, for which the statutory formalities have been completed.

Mr Chaudhari said on the global front, the company has a `foot-in-the-door' with an assignment of technical evaluation for upgradation of a distillery plant in North America. He, however, did not divulge more details.

He said the company has set up its operations in Sharjah to handle the West Asian and the North American markets and added that it would be looking into the European markets.

More Stories on : Outlook | Engineering

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Kudremukh Iron Ore pays Rs 44 crore dividend to Govt


Sicom keen on funding agro-infrastructure projects in Maharashtra
Indal to continue with foil manufacturing biz
TAC pvt placement
Tata Motors arm bags award
SC restores tax exemption to Tata Steel CR mill
Siemens VDO mulls merger with parent co
Hanmer acquires healthcare communication co
Need to improve corporate, political governance stressed
Visa Ind completes financial closure for steel project
GAIL: From gas to mosquito nets — Ties up with Sumitomo for chemical
Praj Industries plans to enter Europe
Aventis says Chiron venture termination may hit growth
Wakhle is `Star Performer'



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, 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