By IANS
Kolkata : La Opala RG Ltd., one of the leading tableware manufacturing companies in India, would set up its second production unit in Uttarakhand in north India.
"The new plant will be developed with an investment of Rs.370 million and it would be a specialised unit for manufacturing only Opal ware," La Opala managing director Sushil Jhunjhunwala said Tuesday.
The company's existing manufacturing unit is at Madhupur in Jharkhand.
"We shall manufacture light-weight ranges in the new unit which will match the standard of world class products. We are expecting to start our production at Sitaramganj unit in Uttarakhand in the second quarter of the current fiscal.
"Out of the total investment, Rs. 250 million would be sourced from financial institutions while the rest would be chipped in by the company's internal resources," said Jhunjhunwala.
He said the primary aim of the new unit would be to manufacture quality products at affordable prices using eco-friendly technology.
"The production capacity of the new plant will be around 4,500 tonne per annum," he added.
La Opala chairman A.C. Chakraborty said the company decided to open its new unit in Uttarakhand because of economic benefits and easy availability of electricity there.
La Opala started in 1988 with the technical collaboration of South Korea's Hosan Glass. The company is presently exporting its tableware products to over 20 countries including US, Britain and France.
"We are trying to consolidate our base especially in the US, Middle East and Japan in near future," Chakraborty told IANS.
Jhunjhunwala said La Opala earned revenues worth Rs.540 million in the 2006-2007 financial year as against Rs.460 million in the last fiscal.