RPG group to invest Rs 14,000 cr

Mumbai, Dec 7 (UNI) RPG Group plans to invest Rs 14,000 crore over the next two to three years in its various segments of existing business.

The group, with major interests in power transmission and distribution, retail, tyres, real estate, telecom towers and plantations, expects to double its sales in three years, Chairman Harsh Goenka said here today.

The group's power utility firm will receive greater share of the investment, around Rs 8,000 to Rs 9,000 crore as it has a greater contribution in over all business, Mr Goenka said, ''We are looking for intensive foray in railway electrification and developing substations.'' However, RPG group is planning for consolidation in its transmission and distribution business and is willing to intensify its growth in telecom, substation and railways in technology business sector, company president and CEO Pradipta K Mohapatara said.

The Group's international subsidiary KEC International has recently won over Rs 1,000 crore worth overseas order for developing facility of T&D and telecom towers, asserted Mr Mohapatara.

In its tyre sector business, comprising CEAT, Philip Carbon and HML, the group is planning for setting up facilities for manufacturing of radial tyre with an investment of Rs 500 crore in the first phase. The grass root plant will be setup at Patalganga or Ambernath in Mumbai in the financial year 2009, which will be operational in 2010, Mr Mohapatra said.

Philips Carbon, dealing in carbon black, will increase its power generation capacity from existing 12 MW to 90 MW by financial year 2012 including 16 MW capacity overseas, he added.

UNI