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Our Bureau

Hyderabad, March 24

Eyeing a bigger pie in the Rs 1,000-crore, 2.36-lakh tonne micronutrient market in the country, the Mumbai-based Aries Agro has decided to open three more manufacturing facilities (Ahmedabad, Lucknow and Panvel) to take the total capacity to 1.08 lakh tonnes from the present 54,400 tonnes a year.

Addressing a press conference here on Monday, Dr Rahul Mirchandani, Executive Director, said the company was investing Rs 11 crore on these units that would commence production by September. He was here in connection with the launch of a fully automated manufacturing facility at Pashamylaram in Medak district with a capacity of 32,400 tonnes a year. The facility churned out water-soluble sachets.

The company raised Rs 58 crore through a public issue last year to fund the expansion plan. Though the company exported its products to Bangladesh and Nepal, it expected to reach the Gulf and North Africa markets after its investments in the Sharjah-based Mapco Fertilisers company.

More Stories on : New Projects | Pesticides

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