Financial Daily from THE HINDU group of publications
Wednesday, Sep 22, 2004
Financial Daily from THE HINDU group of publications Wednesday, Sep 22, 2004 |
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Corporate
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Outlook Finolex Ind bullish on AP market prospects Our Bureau
Hyderabad , Sept. 21 FINOLEX Industries Ltd (FIL), the Rs 1,011-crore branded PVC pipes manufacturer of the Finolex group, has chalked out plans for the fast growing Andhra Pradesh market, its President, Mr Vivek Khandekar, told newspersons here. Taking a cue from the initiatives of the Andhra Pradesh Government, States such as Maharashtra and Gujarat have also embarked upon similar micro irrigation projects, he said. The AP Micro Irrigation Project (APMIP), started in November last year covering 2.5 lakh hectares of land each year in 22 districts across the State, was considered the world's largest drip irrigation project at an outlay of Rs 1,200 crore. Over a period of five years, the total targeted area under drip irrigation was estimated to go up to 10-lakh hectares. One of the Finolex group companies, Plastro Plasson, an Indo-Israel joint venture, was short-listed among the seven players for supplying equipment to APMIP. According to Mr Vivek, around 25 per cent of the total cost of micro irrigation project would be required for PVC components.
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