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M. Ramesh

Half a decade ago, when the Sanmar group was evaluating the merits of getting into textiles business, it bought a chunk of land — 150 acres near Sriperumbudur.

The textile project was given up, but the group still owns the land. Today it is worth, at a conservative estimate, Rs 450 crore. On the sidelines of a press conference, the Chairman of the Sanmar group, Mr N. Sankar, said the group would develop the land. He did not want to elaborate on it.

In addition to this, the group has surplus lands at Cuddalore and Karaikal, more than 100 acres at each location. These lands, however, are meant for housing future expansion of the PVC plant at Cuddalore and the caustic soda plant at Karaikal.

More Stories on : Outlook | Real Estate & Construction | Diversification | Textiles

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