![]() Financial Daily from THE HINDU group of publications Monday, Jan 17, 2005 |
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Corporate
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New Projects English Indian Clays to set up plant for sand near Thiruvananthapuram Our Bureau
Thiruvananthapuram , Jan. 16 ENGLISH Indian Clays Ltd, the Thiruvananthapuram-based manufacturer of China clay, is in the process of setting up a sand extraction plant here. Announcing this at a press conference here recently, Mr M.M. George, Vice-President (Works), English Indian Clays, said the sand extraction unit would operate alongside the company's existing China clay plant at Veli in Thiruvananthapuram. The new unit, which is expected to be operational by next year, will produce construction grade sand, said Mr George. The soil from which clay is extracted will be used as the raw material in the sand-extraction plant, he said. The plant will produce around 1,20,000 tonnes of sand every year, and the company plans to sell it locally. The company expects the total investment in this project to be approximately Rs 5 crore. In the current financial year, English Indian Clays expects to export over 7,000 tonnes of China clay to 17 countries including Japan, New Zealand and the United Arab Emirates. It plans to increase its exports to 12,000 tonnes in the next financial year, said Mr George. The company, which had revenues of Rs 65 crore and a profit of Rs 6 crore in 2003-04, is set to achieve a 10 per cent growth in revenues in the current fiscal, he said. In addition to its China clay manufacturing facility at Veli, the company has clay mines and a manufacturing unit at Thonnakkal near Thiruvananthapuram. The Thonnakkal plant, which started operations in 2003, produces value-added clay that is used in the paper, rubber and paint industries. English Indian Clays also has a starch division in Pondicherry.
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