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Finolex Industries announces Positive Outlook for future, to expand PVC Pipes capacity
Posted On : 2007-07-15 10:16:41( TIMEZONE : IST )
Finolex Industries Ltd has announced the Outlook as below: The global demand for PVC Resin continues to grow. The domestic demand is far in excess of domestic supply and despite the Company's expansion of capacity, PVC Resin is in short supply in India. The demand / supply gap is expected to widen in the years to come.
The demand for PVC Pipes and Fittings has also shown substantial growth backed by a good monsoon and booming construction industry. Various initiatives by the Government to increase the reach of irrigation and drinking water supply are giving a further boost to the demand for PVC Pipes and Fittings.
The Company is expanding its PVC Pipes capacity from 74,000 MT to 100,000 MT during the current year. The Company has acquired 20 acres of land at Urse, Pune for setting up of a new plant for manufacturing of PVC Pipes. After commissioning of the new plant at Urse, the total installed capacity for manufacturing of PVC Pipes would be 100,000 MT per annum.
