Kanoria Chemicals & Industries is likely to invest Rs 5 crore in expanding the capacity of the Czech production facility of APAG Holding AG. The company aims to complete this expansion project by 2014. In April 2012, it has acquired a 90% stake in the Switzerland-headquartered company. APAG, through its Pardubice, Czech Republic facility, produce specialized electronic parts for top European automakers like Porsche, BMW, Audi and Bentley.
Kolkata-based Kanoria is also planning to set up a $30-million export-oriented denim manufacturing facility in Ethiopia in June 2014. Of the total investment on setting up the plant, $20 million will be funded through a loan.
