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[January 2008]
Anant Raj Industries to Set Up Ceramic Unit in Gujarat
Anant Raj Industries Ltd (ARIL), a Delhi-based diversified player having interests in ceramics, construction and real estate, plans to set up a tile manufacturing unit in Jhagadia in south Gujarat, India.
The company will invest Rs 500-600 million (approx US$12.7m-US$15m) in the project, which will be built on over 25 acres in the industrial estate of Gujarat Industrial Development Corporation (GIDC), said Amit Sarin, Director of ARIL. He did not divulge details about the capacity of the upcoming plant.
Marketed and manufactured under the brand Romano, the company’s ceramic tiles business was declared a sick unit in November 1999 and referred to the Board for Industrial and Financial Reconstruction (BIFR).
“Though our core business has since been construction and real estate after we moved into forward integration, we are now looking to expand our tiles business by moving it to Gujarat,” Mr Sarin said.
With the company restructuring its businesses, Anantraj Clay Products Ltd, which used to look after the tiles business was merged into ARIL recently.
The company is moving its tiles business to Gujarat following favourable conditions like availability of natural gas and raw materials, added Mr Sarin.
www.anantraj.com
ENDS