Netafim plans plants in AP, Maharashtra

Netafim Irrigation India, the Indian arm of world's largest drip irrigation systems manufacturer Netafim ACS Israel, is planning to set up two more manufacturing centres in the country, one each in Andhra Pradesh and Maharashtra.

The company is also weighing the option of an initial public offering in 2005 for funding further expansion.

Zvi Feler, managing director, Netafim Irrigation India, said: "We are going to set up a manufacturing facility of 10 crore metres in Hyderabad and another one in Maharashtra. The plants will be commissioned in 2005."

The company has outlined an investment of Rs 20 crore for setting up these plants, he added.

Netafim has an existing manufacturing facility at Vadodara, which is also being upgraded.

"We are setting up one more extrusion line to treble the capacity at Vadodara to 10 crore metre of drip line," Feler said.

"The parent company is planning to go public in 2005 and we would also consider raising funds from the capital markets in India for further expansions," Feler said.

Netafim ACS Israel is looking at a listing on the New York Stock Exchange, he added.

Netafin India is also targeting a market share of 35 per cent in the Indian drip irrigation industry.