Popular mattress brand Kurlon Enterprises plans to invest Rs 500 crore in expansion over the next five years, a senior official said here today.
"As per our expansion plan, we will be having yearly investment of Rs 100 crore for the next five years," Chairman of Kurlon Enterprises T Sudhakar Pai said.
Currently with nine manufacturing units, the company plans to set up four more - two in Bengaluru, one in Bhubaneswar and the third one in Andhra Pradesh.
"In Bhubaneswar, the state government has allotted us 20 acres of additional land and we hope to complete our expansion hopefully by March 2018. The investment in this expansion can go up to Rs 200 crore," Pai said.
"In Andhra Pradesh, the state government has allotted us 65 acres of land, of which the company has taken possession of 45 acres and for the possession of the other 20 acres, some legal proceedings are awaited."
Kurlon has a 24-year-old manufacturing unit in Bhubaneswar.
The Assam government has also invited Kurlon to set up a production unit there, he said.
"We've been invited by the Assam government and we are seriously working on the offer... If this happens, we may think of exporting our products to Burma (Myanmar)," Pai said.
Currently, Kurlon is exporting to four countries, including Sri Lanka, the Middle-East and two other neighbouring countries, the chairman said.
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