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| Surya to invest Rs 550 cr, aims Rs 4,500 cr turnover |
| Press Trust of India / New Delhi Jun 24, 2009, 15:09 IST |
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Lighting products and steel pipe manufacturer Surya Roshni today said it will invest Rs 550 crore in capacity expansion, including setting up two greenfield plants, in the next one year and is targeting a turnover of Rs 4,500 crore by 2011-12.
The company is setting up a lighting equipment manufacturing unit in Gwalior for producing high mast tower and Octagonal street light poles. It is also going to set up a steel pipe producing plant in Bhuj, Gujarat.
"Out of the total Rs 550 crore investment which we are planning, the company will invest Rs 100 crore in expanding its lighting business and Rs 400 crore for setting up steel pipe manufacturing plant," Surya Roshni Chairman and Managing Director J P Agarwal told reporters here.
It will invest another Rs 50 crore on modernising its existing units.
The company will focus primarily on manufacturing high mast tower and octagonal street light poles, which are mostly used in urban areas, for expanding the light business, he added.
The company has acquired around 50 acres of land near Gwalior, where it will set up a new manufacturing unit for producing lighting products, Agarwal said.
"We aim to become the largest lighting solution provider in the country and we will focus more on energy saving product such as CFL, FTL and T5 lamps," he added.
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