Financial Daily from THE HINDU group of publications
Saturday, Jan 28, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 28, 2006 |
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Corporate
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New Projects Universal Cables plans expansion Our Bureau
Kolkata , Jan. 27 M.P. Birla Group company's Universal Cables Ltd has embarked upon a Rs 60-crore expansion-cum-technology upgradation project that is expected to be fully implemented by 2006-07. According to a press release issued by the company, the project envisages equipping Universal Cables with the Vertical Continuous Vulcanisation technology, which is stated to be superior to the conventional Continuous Catenary Vulcanisation process. The release states that the Rs 60-crore investment that would be required for the project would be generated through internal accruals and debt. The initiative would enable the company to produce a full range of XLPE cables of up to 400 KV and process the entire range of conductors required for power transmission and distribution. The project would also make the country self-reliant with regard to its requirements of 220 KV and 400 KV XLPE cables, which are now being imported. The financial performance of Universal Cables during the first nine months of the current fiscal has been better than last year. During April-December 2005, the company recorded a total income of Rs 252.50 crore, a 61 per cent growth over the income recorded during the corresponding period of last fiscal.
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