HSIL gets nod for investment projects worth Rs 217 crore

31 Jul 2015

HSIL has received an approval for two investment projects worth Rs 217 crore. The board of directors at their meeting held on July 30, 2015 has approved for the same. The company received first approval for capital expenditure of Rs 105 crore for putting up plant for manufacturing of CPVC and UPVC pipes and fitting used in plumbing and sanitation. The company has entered into agreement with Sekisui Chemical Company, Japan (around $9 billion turnover company) for supply of CPVC resin. This product line is extension of building product portfolio.

The second approval is for capital expenditure of around Rs 112 crore towards setting up a project for producing security Caps and Closures required for protection of products from counterfeiting. This product will be a value addition to the existing portfolio of the Packaging Products Division of the company. In this regards, the company has also filed for necessary product patents.

HSIL is one of the leading domestic players in container glass and building products segments. Under the second segment, the company manufactures and trades in sanitaryware products, faucets and wellness products. It has five manufacturing facilities in India, of which three are located in Andhra Pradesh, one in Rajasthan and one in Haryana.

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