Financial Daily from THE HINDU group of publications
Friday, Jul 22, 2005
Variety - Interiors & Homes
Indo-Malaysian venture to set up furniture plant in Chennai
Hyderabad , July 21
BUOYED by the fast emerging opportunities in the interior fit-outs market, LCL-IJMII International Interiors Pvt Ltd, the joint venture between the Malaysia-based LCL Corporation Berhad and IJM (India) Infrastructure Ltd, has decided to set up its manufacturing facility at Chennai.
LCL-IJMII, which announced the launch of its brand name, Li Solution, expects the Chennai facility to give it significant advantage in competing with the existing Indian players, said Mr Dato Syed Ariff Fadzillah, LCL Group Executive Chairman.
He was speaking to newsperson after inaugurating the first showroom of Li Solution at Banjara Hills on Thursday.
According to him, the Chennai facility would initially focus on custom-made wood furniture, mouldings, profiles, doors, and boards.
The company, with an initial investment of Rs 6 crore, would employ around 100 workmen, who would be trained at the Malaysian facility for six months.
The facility would take off by early next year, he said.
The Malaysian group currently has six factories in Malaysia and one in Thailand and produces custom-made and generic furniture, plaster ceiling works, interior steel, and metal works, apart from the business of supplies of glass, stone and marble.
According to the LCL Group Managing Director, Mr Low Chin Meng, the joint venture offers distinctive interior design services, complete range of interior fit-outs, quality custom-made furniture, and modern interior construction works for buildings, offices, and homes in the Indian market.
The IJM (India) Executive Director, Mr Ng Chin Meng, said: "The unique concept is to offer the one-stop solution. We offer the building owner, residential or commercial, the most comprehensive packages in total interior fittings, fixtures and furniture. We are expecting major business opportunities in view of the growing construction activity of convention centres, star hotels, corporate houses, and civic body offices across the country." Citing certain examples on the size of opportunities in the interior design services, he said that the Delhi Civic Body is currently constructing Rs 545-crore offices complex and has a budget of over Rs 160 crore for interiors.
The Rs 1,200-crore Techno Park coming up at Chennai is expected to spend close to Rs 260 crore on interior fit-outs.
IJM (India) is currently involved in construction of highways, buildings, and residential property development projects in India and expects to bag a good number of the interior furnishing contracts as well in favour of the joint venture, Mr Ng Chin Meng said.
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