On the back of a healthy growth in the June quarter, Godrej Industries (GIL) has chalked out a Rs 300-crore expansion plan for agri and chemical businesses, a top company official said today.
Godrej Industries has earmarked Rs 230 crore for setting up a new chemical manufacturing unit at Ambernath, near Mumbai and another Rs 75 crore for expanding its animal-feed arm, he said.
"The last quarter has been very positive for Godrej Industries--the chemical and agri-feeds subsidiaries have posted strong growths. We are looking at setting up 4-5 animal feed units at an investment of Rs 10-15 crore each in Maharashtra, UP and south India," GIL's Managing Director Nadir Godrej told PTI here today.
However, he did not divulge any further details.
Godrej currently has 6-7 company-owned units besides operating 20-30 third party units. The total production capacity is around 1-million MTPA.
The upcoming units will add another 1,00,000 MTPA to the existing ones, Godrej said.
"Animal feed contributes around 50 per cent of the total revenues of Godrej Agrovet (Rs 1,500 crore) and we expect a 15-20 per cent growth here this fiscal," Godrej added.
