Financial Daily
from THE HINDU group of publications
Friday, August 10, 2001
|
Financial Daily from THE HINDU group of publications Friday, August 10, 2001 |
||
|
|
||
|
• AGRI-BUSINESS • CORPORATE • FEATURES • INDUSTRY • LETTERS • MACRO ECONOMY • MARKETS • NEWS • OPINION • VARIETY • INFO-TECH • CATALYST • INVESTMENT WORLD • MONEY & BANKING • LOGISTICS |
Corporate
| Next
| Prev
Shree Rama to set up production unit in China
Our Bureau
MUMBAI, Aug. 9
THE Ahmedabad-based Shree Rama Multi-Tech Ltd has decided to invest Rs 100 crore in setting up a manufacturing unit for plastic and laminated tubes in China.
In a communication to the stock exchange, the company has said the investment decision was taken at its board meeting on Wednesday.
``We plan to borrow half the amount required from financial institutions, while the other half will be funded through internal resources,'' Mr Rajesh Shah, Company Secretary told Business Line.
The company had earlier set up a liaison office in China and had appointed a consultancy firm to carry out a survey for demand for laminates and plastic and laminated tubes. The company said there was huge demand for laminates and plastics in China.
Work on the project is expected to begin next month. ``We would like to finish the project by December 2002,'' Mr Shah said.
This is the first overseas venture for Shree Rama Multi-Tech.
|
|
|
Related links: Shree Rama China unit Comment on this article to BLFeedback@thehindu.co.in Send this article to Friends by E-Mail
Next: GATI to pay 40% Prev: Instrumentations Ltd pact with Siemens Corporate Agri-Business | Corporate | Features | Industry | Letters | Macro Economy | Markets | News | Opinion | Variety | Info-Tech | Catalyst | Investment World | Money & Banking | Logistics | Copyright © 2001 The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line. |