By IANS,
Kolkata : Public sector Balmer Lawrie and Co is looking to invest Rs.300-500 crore in the next two to three years in new projects like a container manufacturing facility at Navi Mumbai and a multi-modal logistic hub at Visakhapatnam.
“In the next two to three years, we are looking at a very large investment of Rs.300-500 crore into new projects,” chairman and managing director Viren Sinha told reporters after the annual general meeting of the company here Wednesday.
Sinha said the company expected to commission its proposed container manufacturing plant at Navi Mumbai by the end of 2014, with an estimated investment of nearly Rs.100 crore.
“We have started the construction at the site. We hope to commission the plant over the next 15 months.”
The company produces 40 lakh barrels annually at present in its six plants. A new plant is expected to increase output by nearly 30 per cent.
Sinha said the firm would also invest about Rs.150 crore in the multimodal logistic hub at Vishkhapatnam, for which it was awaiting an approval from the Shipping ministry.
Balmer Lawrie has signed a memorandum of understanding (MoU) with Vizag Port Trust for the joint-venture project.
“It will be a fully integrated facility, whereby we will be able to provide all kinds of solutions for logistics. Land is identified for the project. Once we get the approval, we will take it forward,” he said.
The firm is currently evaluating the possibility of setting up an independent facility for producing construction chemicals, targeting the cement industries and concrete manufacturers.
It is already producing 200 tonnes of construction chemical per month in the two facilities at Kolkata and Chennai.
“The new plant primarily will be in Chennai. Total investment could be around Rs.40 crore,” Sinha said.
The company is looking at acquisitions in the area of leather chemical as well as travel and tourism business.
Sinha said the company would invest a ‘very substantial amount’ in its tourism business. It has set up a web portal for its travel business, investing about Rs.25 crore.