New Delhi, Aug 24 Kirby Building Systems (India) Ltd would be setting up its third plant in western India to cater to the growing needs of industries coming up in that area. Currently, the company has two plants in Hyderabad and Hardwar catering to the southern and northern markets respectively.
The company is exploring various options in Maharashtra and Gujarat and plans to commission the new plant in 2009, the company Managing Director, Mr Praveen K. Tandon, told reporters here on Friday.
The company, which manufacturers pre engineered steel buildings for industrial and commercial purposes, recorded a turnover of Rs 470 crore in 2006 (January-December), is eying a turnover of around Rs 700 crore in 2007 and has set a target of Rs 800 crore for next year, Mr Tandon said.
The company’s two existing plants currently has a combined fabrication capacity of two lakh tonnes annually and the third plant, according to the plans would start with an initial capacity of around 50,000-75,000 tonnes annual capacity which may eventually be increased to 1.25 lakh tonnes with a total investment of around Rs 100 crore.
Setting up the new plant would take around six months, he said.
The capacity of the two plants have just been hiked to two lakh tonnes, he said adding that that the final plans for the third plant would be put in place once the capacity utilisation level of the two plants reaches a level of 75-80 per cent of their annual capacity.
Kirby is a subsidiary of the UAE-based Alghanim Industries and has invested around Rs 260 crore for its Indian operations and enjoys around 50 per cent of the domestic pre engineered building market share, Mr Tandon said.