Nilkamal to invest Rs 150 cr in Jammu plan

Leading plastics and moulded furniture major Nilkamal will set up a new manufacturing unit at Jammu shortly, as part of its Rs 150 crore expansion plan in the next three years.

"The company is going to add a new manufacturing unit of crates and plastic furniture in Jammu in next two months with an investment of Rs 25 crore," said Paresh Mehta, financial controller, Nilkamal.

"We are going to spend Rs 75 crore in the current fiscal, Rs 40 crore in 2008-09 and Rs 30-35 crore in 2009-10 for expansion of our current business," he said.

In order to expand its home decor retail business, which operates under the brand name '@HOME', he said, "We will come up with a total of 31 @HOME' stores by 2010, spending Rs 25 crore every year on the business."

Nilkamal has five manufacturing units in the country and one each in Sri Lanka and Bangladesh. Its two subsidiary companies, Nilkamal Crates and Bins and Stackwell Marketing Services, were recently merged into the group company.