Asahi India reveals plans for major investment over next five years

  Company financial news

The bulk of these plans centre around the company's new Gujarat plant

AsahiIndia
Asahi India reveals plans for major investment over next five years
Automotive glassmaker Asahi India Glass (AIS) is planning to invest 7,000,000,000 INR (roughly 109,400,000 USD) over the next five years. It is planning to pump in a bulk of that in its greenfield factory in Gujarat which will primarily cater to the new Maruti Suzuki plant.
"We are planning to invest Rs 500-550 crore in the new Gujarat plant," said Gopal Ganatra, AIS Executive Director, General Counsel & Company Secretary.
Rs 550 Crore would be 5,500,000,000 INR or around 85,957,000 USD.
"In phase 1, we will have a capacity of one million units of laminated glasses and 1.2 million units of tempered glass sets per annum. We expect to start production in Q4 of fiscal year 18 or 19. This plant will be state of the art and fully automated and will have the capacity to produce high quality complex automotive glass and value added products. Though initially dedicated to Maruti Suzuki, as we expand we can look at supplying to others also. The tempered capacity will also cater to our western India clients like VW, M&M and Tata Motors."
AIS has one million units of laminated capacity in its Taloja plant in Maharashtra as well.
During the second phase, the plant is expected reach overall capacity of about 2.4 million units of tempered glass and 2.2 million units of laminated glass and this will be completed by 2022.
"Right now we are at about 5.7 million units capacity but we plan to pull it to eight million units in the next five years," said Ganatra.
The company is aggressively targeting...






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