Diamond Interest to set up Rs 3cr unit in Andhra

Makes Rs 25cr expansion plans for India in next 5 yrs

Diamond Interest (India) Private Limited, a subsidiary of Malaysia-based Dynapharm (M) Sdn Bhd, is planning to invest Rs 25 crore for expanding its operations in India over the next five years. The company specialises in herbal food supplements and cosmetic products.

Addressing a press conference on Thursday, Abdul Rahmat Puvarasan, country manager of Diamond Interest (India) Private Limited, said, "We are planning to set up a manufacturing facility in Andhra Pradesh with an investment of around Rs 3 crore. The new facility would cater to the needs of the Indian market as well as exports to countries in Africa, the Middle East and countries neighbouring India."

"We are also planning to set up a research and development (R&D) facility in India," he added.

The company is now expanding its operations to Karnataka, Kerala, Tamil Nadu and Chhattisgarh. Diamond Interest, which follows a multi-level marketing concept, has around 3,000 dealers. It plans to increase its dealer network to one lakh by this fiscal-end.

Diamond Interest's parent company Dynapharm (M) Sdn Bhd, which manufactures 90 herbal products, has already introduced seven products to the Indian market.

"The seven products that we launched last November have received good response so far. The company has recorded sales worth Rs 30 lakh during this period," Abdul Rahmat said.

The company is planning to launch another four products in the next one month. The products that are in the pipeline are Spirulina tablets, Gano lotion, Gano toothpaste and Gano shampoo.