Asian Granito India (AGIL) has entered into a joint venture (JV) with Paramshree Granito for setting up a green field facility for Quartz stone at Prantij at Himmatnagar in state of Gujarat. The JV Company Camrolla Quartz will invest around Rs 35 crore in setting up 1,600 square meter per day facility for quartz. Asian Granito will hold 51% stake in the joint venture.
The JV company will be manufacturing 15mm, 20 mm & 30 mm thickness slabs of quartz in the large format of 11.5 feet X 6.50 feet. The plant will be operational by April 2018. Initially company will start with 2 lines of production followed by addition of one line in every six months till period of 2 years to have overall 6 lines.
AGIL’s current capacity of quartz stone stands at 1,600 square meter a day which will double to 3,200 square meter a day post this joint venture. The joint venture is likely to generate sales of around Rs 70 crore in the first year of operation in FY 2018-19. 70% of the production will be exported while 30% will be for domestic markets.