PVC pipes manufacturer Floking Pipes has proposed to invest Rs 100 crore for setting up a new facility in Tamil Nadu as part of plans to increase commercial production, a top official said today.
The company has signed a memorandum of understanding with the Government of Tamil Nadu for setting up the manufacturing facility and also to ramp up production at its existing facility in Sriperumbudur, the company said in a statement.
"Floking Pipes will increase commercial production in line with the implemenation and investment plan. The company proposes to invest Rs 100 crore towards capacity expansion plan in Sriperumbudur facility and for a new manufacturing facility in Kancheepuram district", it said.
"We are looking at expanding manufacturing facility located in Chennai to meet the needs of domestic and export markets.", Floking Pipes, Director, Nilesh Modi said.
Through this MoU we hope that we will be able to serve the people through our globally acclaimed and awarded high pressure water piping systems, he said.
