Finolex Industries, a manufacturer of PVC resin and pipes, plans to set up a fourth facility to make pipes in India, Executive Chairman Prakash Chhabria has said.
The company’s third plant in India at Masar in Gujarat, and its first outside of Maharashtra has just begun commercial production. It will cater to the requirements of Gujarat and the north Indian states.
Built with an investment of Rs 100 crore, the second phase of the new plant will get commissioned during the current fiscal, after which it will add 50,000 tonnes per annum to Finolex’s current capacity of 150,000 tonnes.
“We are planning to set up a fourth plant for PVC pipes, and this should be up and about in the next 24-30 months,” Chhabria said adding that the locations being considered for it were Nagpur, Masar or a place in north east India. The annual capacity of this plant too will be around 50,000 tonnes and will cater to domestic requirements, he said.
Finolex Industries, which has a pan-India presence, currently has a share of around 20 per cent in the PVC pipes market. Chhabria said that amongst the new product lines being considered, is window profiles to replace wood or aluminium.
Finolex Industries has two other plants for PVC pipes located in Urse near Pune and Ratnagiri on the western coast where it also has a plant to make its main raw material - PVC resin - mostly for its own consumption.