Surya Roshni to invest Rs 550 cr for capacity expansion

Makers of electrical bulbs tubelights and steel pipes Surya Roshni today said it would invest about Rs 550 crore by March 2010 towards capacity expansion of its different plants in the country.

"Surya Roshni and some of its subsidiaries will invest about Rs 550 crore on capacity expansion by March 2010 in its plants in states including Gujarat and Madhya Pradesh," Agarwal said.

The company is aiming to increase its annual turnover of Rs 1,750 crore to Rs 5,000 crore in the next two to three years, Surya Roshni Chairman and Managing Director J P Agarwal told reporters here.

The company's export figure was at Rs 300 crore last year and the aim is to increase it to Rs 400 crore this year.

With a 60 per cent growth rate, the company is forging ahead of the industry growth rate of 10 per cent, he said while launching the firm's latest "energy-efficient" T-5 tube lights in the city.

On setting up manufacturing units in south India, Agarwal said work was in progress and could probably get completed in the next financial year.