Kajaria Ceramics Ltd to form JV in Nepal

The Board of Directors ('the Board') of Kajaria Ceramics Limited ('the Company') at its meeting held today, have, approved proposal to make investments upto Rs. 125 crores (i.e. 50% of project cost of Rs. 250 crores) in a company to be incorporated in Nepal, by way of equity and/or loan, for establishing a manufacturing facility in Nepal on joint venture basis between the Company and various individuals affiliated with Ramesh Corp, Nepal.

A company is to be incorporated in Nepal for the purpose of establishing a manufacturing facility in Nepal with annual capacity of 8 MSM (i.e. 4 MSM for Ceramic Floor/Wall Tiles and 4 MSM of Glazed Vitrified Tiles), on the joint venture basis between the Company and various individuals affiliated with Ramesh Corp, Nepal ('Ramesh Corp Shareholders'), in equal ratio.

The proposed JVC is yet to be incorporated and said JVC will carry out manufacturing of Ceramic and Glazed Vitrified Tiles in Nepal.

Source : Equity Bulls

Keywords

KajariaCeramics JV Nepal RameshCorp Investment