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Adventz Group to invest $2 bn in 4 yrs

Press Trust of India  |  New Delhi 

Saroj Poddar-led Group companies, including Zuari Industries, Texmaco and Paradep Phosphates, today announced a unified corporate brand 'Adventz' and said the group will invest $2 billion (around Rs 10,000 crore) for expansion in the next four years.

"We have planned a capital outlay of $2 billion (around Rs 10,000 crore) in the next four years to expand our businesses across the twenty-one in the Adventz Group," Zuari Industries Managing Director Suresh Krishnan told PTI.

He said the group was targeting a turnover of $5 billion in the next five years.

"Currently, the Group's turnover is around $2.5 billion, which is likely to go up to $3 billion in the next fiscal. Over a period of five years, we are looking at a figure of $5 billion," he said.

Of the total investment planned, a majority of funds will be utilised for setting up of a new fertiliser plant in Karnataka and for acquiring assets in the fertiliser business.

The group's flagship firm, Zuari Industries, will be setting up a Rs 5,000 crore gas-based urea plant in Karnataka with an annual capacity of 1.3 million tonnes a year. It will be built near the Dabhol-Bangalore gas pipeline project, which is expected to complete by 2012-13.

Other focus areas of the group will be retail, real estate, besides the financial services and brokerage business.

"Over the next few years, we would look at consolidating out position in the diverse range of businesses that we are in," Krishnan said.

The group today announced re-positioning of its 21 firms, including joint ventures and subsidiaries, under one umbrella brand 'Adventz'.

"We are in the process of finalising the marketing and promotional plan for the new identity," he said.

All the products and services offered by the group will bear the new logo and brand name going ahead.

The Adventz group operates in areas such as fertilisers, heavy industry, engineering services, consumer durables, real estate and financial services.

The main in the group are Zuari Industries (fertilisers and agriculture services), Texmaco Rail and Engineering, Adventz Infra World, Style Spa Furniture among others.

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First Published: Wed, March 23 2011. 16:25 IST