Visaka Ind to set up new asbestos unit

 The city-based Visaka Industries Limited is planning to set up a new asbestos cement sheets unit in Bangalore, besides expanding the capacity of of its synthetic blended yarn unit located near Nagpur.

 While the Bangalore unit will involve an investment of Rs 25 crore, the expansion at Nagpur unit will cost about Rs 20 crore.

 Announcing this here today along with the second quarter financial results, G Vivekanand, the managing director of Visaka Industries, said that the new investment plan would be finalised in a couple of months.