Sintex in pact with Gujarat for low-cost homes

Sintex Industries Limited and the Gujarat government, represented by the Gujarat Urban Development Company (GUDC), have entered into an agreement for the construction of 50,000 economically weaker sections (EWS) quarters with monolithic construction technology in Ahmedabad, Baroda, Rajkot and Surat.

The proposed investment in the project is about Rs 750 crore. Monolithic constructions are housing solutions designed by Sintex to address mass and low-cost housing needs.

The company will also be launching its Spring-Summer 2008 Dobby and Jacquard collection across Europe in March this year. The launch will be at all the International Trade Fairs in the continent.

The collection comprises over 3,000 designs in the men's formals, casuals, evening wear and ladies wear range. It would be launched in India a fortnight after its Europe launch.

These designs would be marketed to large international brands with which Sintex has existing tie-ups such as Marks & Spencer, Armani, Burberry's, Darcy's and Abercrombie & Fitch.

The move comes on the back of the company's focus on niche offerings and its aim to specialise in men's structured shirtings in the premium fashion category.

Presently, Sintex manufactures a range of plastic products, which include water storage tanks, pre-fabricated structures, interior products and industrial custommoulding.