Tiles maker Somany Ceramics today said it will invest over Rs 100 crore in next three years for enhancing its production capacities by 10 million square metres annually.
The company is looking to form a new joint venture (JV) within the next six months that will set up a new facility with an installed capacity of 2.5-3 million square metres annually in Gujarat.
"We are expanding our capacities. In the next three years, we will add ten million square meters of annual capacities through greenfield and brownfield options," Somany Ceramics Joint Managing Director Abhishek Somany said at the Building Material Exhibition here.
The company currently has a total production capacity of 35 million square mitre per annum at its four plants, out of which two are joint venture units. "We will be investing around Rs 30 crore every year and in the next three years it will be over Rs 100 crore. This includes expanding our existing capacities as well as setting up new plants," Somany said.
He said the company is in discussions with a few players to form a new joint venture within the next six months.
