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INDIA'S KANORIA CHEMICALS TO INVEST US$39 MLN FOR EXPANSION.

AsiaPulse News

| September 01, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, Sept 1 Asia Pulse - In a major expansion drive, Kanoria Chemicals and Industries (BSE:KNRC) Tuesday announced investing Rs 1.8 billion (US$38.86 million) during 2004-05 in setting up a 25 MW power plant and a chemical unit while targeting Rs 5 billion turnover by 2007.

"The thermal power plant would be set up with an outlay of Rs 870 million and the Chlor-Alkali plant would be set up at a cost of Rs 930 million," KCIL chairman and managing director R V Kanoria told reporters here.

The company has mandated Thermax Ltd (BSE:THMX) for setting up the power plant, while Uhde India would execute the chemical manufacturing project, he said, adding both the plants would be operational by November 2005.

With the commissioning of the plants the company is expected to achieve a turnover of Rs 5 billion in ...

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Source: HighBeam Research, INDIA'S KANORIA CHEMICALS TO INVEST US$39 MLN FOR EXPANSION.

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