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Written by Harvey_Bach
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Saturday, 14 April 2007 |
Sanmar group has broadened interests towards Chemicals, Speciality Chemicals, Engineering and Shipping as part of its growth plans.
The company plans to invest Rs 3,950 crore in the next three years.
N Shankar, the group chairman said the company had previously adopted a caustic soda facility in Egypt for $ 300 million and Eisenwerk Erla foundry in Germany for 26 million Euros as part of its development plans.
The Egyptian plant would be overpowered at a $550 million by next two years to raise the caustic soda production capacity to 275,000 tonnes annually and to make 400000 tonnes of VCM.
Fifty per cent of the VCM made at the Egyptian plant would be reserved for the group company Chemplast’s greenfield PVC facility, forthcoming at Cuddalore in Tamil Nadu. The rest amount would be exported to North African countries.
On the German foundry, he said it would assist the company to convene the demands for turbo charger for automobile companies.
Sanmar had many overseas customers for the product and now all this would be sourced from the German facility, he said.
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