Finolex Industries, a manufacturer of PVC resin and pipes, is likely to establish a fourth facility to make pipes in India. The company has its third plant in India at Masar in Gujarat, and its first outside of Maharashtra has just begun commercial production. These plants will cater into the requirements of Gujarat and the north Indian states.
The company plans to build the new facility with an investment of Rs 100 crore and the second phase of the new plant will get commissioned during the current fiscal. After the establishment of new facility, the company will add 50,000 tonnes per annum to Finolex’s current capacity of 150,000 tonnes.
Finolex Industries is one of the larger players in India’s PVC market, with a market share of about 20 per cent. Its large capacity is expected to help it to capitalise on the supply-deficit scenario in the domestic industry.
