Kajaria Ceramics Ltd: Incorporation of a JV company in NepalKAJARIACER - 1185 Change: -0.95 (-0.08 %)
Kajaria Ceramics Ltd is set to make investments upto Rs 125 crores (i.e. 50% of project cost of Rs 250 crores) in a company to be incorporated in Nepal, by way of equity and/or loan, for establishing a manufacturing facility in Nepal on joint venture basis between the company and various individuals affiliated with Ramesh Corp, Nepal. The proposed annual capacity would be 8 MSM (i.e. 4 MSM for Ceramic Floor/Wall Tiles and 4 MSM of Glazed Vitrified Tiles).
Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India with current annual capacity of 82.8 MSM. The company is already into expansion/acquisition mode wherein it is adding Rs 80 crore capex in sanitaryware segment and has acquired 51% stake in 4.8 MSM plant in Telangana (apart from completed capex of Rs 250 crore on tiles). The proposed investment in Nepal to set up a manufacturing capacity would be its first outside India venture and is likely to tap growing opportunities in the region.