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Wednesday, Feb 23, 2005

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Visaka to set up fibre cement sheet plant in UP

Our Bureau

Hyderabad , Feb. 22

WITH the successful completion of its Tumkur unit in Karnataka, Visaka Industries Ltd is setting up another 1.2 lakh tonnes per annum (tpa) fibre cement sheet plant in Rai Bareilly district of Uttar Pradesh at a cost of Rs 25 crore.

The new plant (to be funded through internal accruals and debt) is expected to commence production next fiscal. The land has been identified and the acquisition process is in progress, the Managing Director, Dr G. Vivekanand, told reporters here on Tuesday.

Dr Vivekananda said that VIL was also considering setting up a garment unit with an investment of Rs 55 crore, a weaving unit (Rs 53 crore) and a cotton yarn unit (Rs 93 crore). Subject to board approval, the company would set up the garment and weaving units next fiscal and the cotton yarn unit in 2006-07. The details of three projects were being worked out.

He said that the Tumkur plant commenced trial production on Monday, while the commercial production is expected to start from March 1. With the Tumkur project, the total capacity of Visaka Industries' Fibre Cement Sheet Division will go up to 3.4 lakh tpa. After completion of the Rai Bareilly unit, the capacity would further increase to 4.6 lakh tpa.

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