Business Daily from THE HINDU group of publications
Saturday, Feb 21, 2009
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Business Daily from THE HINDU group of publications Saturday, Feb 21, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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New Projects States - Andhra Pradesh Annex Glass setting up 2 units in AP Ch. R.S Sarma Visakhapatnam, Feb. 20 Annex Glass Industries is setting up two glass processing units in Andhra Pradesh – one at Chevella in Ranga Reddy district and the other at Gambhiram in Visakhapatnam district. In an interview here on Friday, Mr Krishna Parvathaneni, Managing Director, said the largest glass processing industry in the State was coming up at Chevella in Ranga Reddy district. “Construction is going on at the 12-acre site and we hope to commission the unit by August/September and the second unit in Visakhapatnam district may take sometime more,” he said. He said the units were being funded by NRIs and roughly Rs 40 crore was being invested on the Chevella unit. It would have a capacity of 20,000 sq. mt a month initially and later the capacity would be increased. The planned investment on the second unit in Vizag would be of the order of Rs 30 crore, he added. He said, “There is great demand for the product but right now, the impact of recession is being felt. But we are sure the projects will go on without any hitch. We plan to sell 60-70 per cent of the products in the domestic market and export the rest.” He said the State Government had allotted 6 acres to the company for setting up the unit at Gambhiram, “but we have sought 9 more acres and it is under consideration.” More Stories on : New Projects | Glass | Andhra Pradesh
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