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Tile maker Asian Granito India Ltd (AGIL) is investing ₹20 crore to set up a third line of quartz stone facility at its Himmatnagar plant in Gujarat, dedicated for exports.
Post expansion, the company’s quartz stone capacity will double from the existing 2.64 lakh sq m to 5.28 lakh sq m per annum. The expansion is likely to fetch additional sales of ₹60 crore in FY18.
The target market for the new quartz plant will be homes (kitchen counter tops and interiors), malls, airports and high-end hotels, among others. Kamlesh Patel, CMD, said here on Wednesday that the replacement of counter tops is the largest market for engineered quartz in the US.
From its existing two lines, AGIL’s current capacity of quartz stone stands at 800 sq m a day, which it plans to double to 1,600 sq m. The company is also launching 20 mm and 30 mm thickness slabs of quartz in the large format of 10.5x5.25 feet. The production of the new range will start in April. Patel said quartz as a segment contributes ₹45 crore in sales at present, which the company expects to increase to ₹125 crore over two-three years.
Mukesh Patel, MD, said that post expansion revenue contribution from the quartz segment is expected to double to 9 per cent of total sales.
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