Somany Ceramics have decided to make investment of Rs 42 crore in the share capital of Sudha Somany Ceramics, a subsidiary of the company said in a BSE filing on Wednesday.
The proposed investment is towards the capacity expansion of 3.6 million sq meters per annum of Glaze Vitrified Tiles (GVT).
It also decided to make investment of Rs 90 crore in the share capital of Somany Piastrelle, a wholly-owned subsidiary of the company .
The proposed investment is towards setting up a greenfield project of 3.48 million sq meters per annum of Glazed Vitrified Tiles at Dhanot, Gujarat.
The board also approved the modernisation-cum-expansion of the production line of double fast firing to produce large format wall tile, at the Kassar plant of the company through an investment of Rs 45 crore, the company said in a regulatory filing.
The existing capacity of the plant is about 7,000 sq meters per day of wall tile which is being fully utilized.
After the proposed modernisation the capacity will increase to about 16,000 sq meters per day and will be completed by fourth quarter of next fiscal.
