Vesuvius India lays foundation stone for new manufacturing facility in Perwada, VisakhapatnamVESUVIUS - 3786 Change: -61.05 (-1.59 %)
VIL has laid the foundation stone of a new manufacturing facility at Perwada, Visakhapatnam. The company plans to build a new manufacturing facility at Vizag. This facility will be the latest addition to the existing manufacturing facilities at Kolkata, Visakhapatnam and Mehsana. VIL, through its proposed wholly owned subsidiary, will invest Rs 57 crore in the first phase. This is in addition to Rs 100 crore investment in progress in building capabilities and capacities in different plants in Kolkata and Vizag. This facility, once commissioned, will produce the latest generation mould flux product and further strengthen VIL's product & service portfolio.
VIL has completed the acquisition of industrial freehold land at Vizag to meet future expansion and business needs. Being close to the Vizag port, VIL will be in a better position and can target a higher share of the export markets. VIL is well placed to capture domestic market share through focus on localised manufacturing and new product launches driving faster growth.