The Hindu Business Line : Varun Group aims at Rs 1,000-cr turnover

The Mumbai-based Rs 700-crore Varun Group, exporter of stainless steel kitchenware and houseware, proposes to diversify into wind energy, iron ore mining and exports, agro-based industries and real estate, to achieve a turnover of Rs 1,000 crore within the next couple of years.

A beginning has already been made, according to Mr Kiran Mehta, Chairman & Managing Director of the Group. The Group has started generating, in a small way though, wind power in Rajasthan and supplying it to Rajasthan State Electricity Board. Also, two iron ore mines, one each from Karnataka Government and private firm, have been acquired in Bellary-Hospet region in Karnataka, with the exports of iron ore at the rate of 1,20,000 tonnes per month, through New Mangalore port, due to start from May.

Eyeing West Bengal

"In West Bengal, we are exploring opportunities for setting up agro-based industries and participating in urban development projects," Mr Mehta said, pointing out that this was his first visit to the State and the initial impression was "very positive".

West Bengal, he felt, was a major producer of fruits and vegetables but no organised effort has been made so far in the State to promote its exports in a systematic way. As a first step, the Varun Group would like to set up cold storage facilities and undertake exports; subsequently, processing facilities would be launched. In urban development, the Group would be interested in promoting modern townships with proper amenities. "We will not be here to construct just a few high rise buildings," he observed, adding, "we are planning, at least immediately, anything between Rs 50 crore and Rs 100 crore of investment in the State".

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