Khaitan oulays Rs 20 crore expansion plan

New Delhi, Apr 3 (UNI) Embarking on a diversification drive, household electrical goods maker Khaitan Electricals Ltd today announced its plan to set up a new manufacturing plant at an expense of Rs 20 crore.

The plant will manufacturing compact flourescent lamp (CFL), miniature circuit breakers (MCB) and resuidal current circuit breakers (RCCB).

The company has already invested Rs 70 lakh for acquiring 1.34 hectares of land at Kala Amb in Himachal Pradesh.

Khaitan Electricals, Chairman and Managing Director, Sunil K Khitan said, ''The diversification into CFLs, MCBs and RCCBs is a step towards tapping new markets.'' The company has now made a fresh equity invesment of Rs 6 crore by issuing 10 lakh equity share of face value of Rs 10 each to meet its increased working capital.

The total outlay for the expansion programme is Rs 20 crore and the company is all geared up to make itself the one stop shop for all electrical household requirements the release said.

UNI MP SR PC1857