The Hindu Business Line : Gemini TRAZE to make RFID tags

Chennai March 14 Gemini TRAZE (P) Ltd, a 100 per cent subsidiary of the Chennai-based Gemini Communication Ltd, has set up an RFID (radio frequency identification) tag manufacturing facility near Chennai at an initial cost of Rs 18 crore, according to a company official.

It hopes to reduce the price of RFID tags to around Rs 10 (for bulk orders) from the current international price of Rs 45, Mr R. Vijaykumar, Chairman, Gemini Communication, told newspersons. Currently, there was a 45 per cent customs duty, he said.

Gemini plans to invest another Rs 18 crore in the next one year in the facility at Tirumazhisai, west of the city. ICICI Bank has lent Rs 5 crore to the project, and rest of the funding for the first phase was generated from internal accruals, he said.

Gemini Communication reported revenue of Rs 126 crore for fiscal ended March 31, 2006, and hopes to reach around Rs 175 crore during this fiscal. Gemini TRAZE contributed 10 per cent of the revenue for Gemini Communication, and the number would double with the start of the new facility, he said.

With the new plant, the company will offer customers end-to-end RFID solutions, including receiver, transponder, antennae and tag.

The Thirumazhisai facility would have an annual production capacity of 100 million RFID tags.

More Stories on : Technology | New Projects

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Telecom retail segment hotting up

VSNL to hive off broadband, retail business

Gemini TRAZE to make RFID tags

AppLabs, Borland partner

Wipro refutes ex-employee's claims

HelloSoft partners Alpwise

Gateway HR bags deals from Aztec, Sasken

Essar, Vodafone reach agreement on jointly managing Hutch

Travelmartindia mobile booking

`TCS, Infosys, Wipro way ahead of peers'