Aditya Birla Nuva makes capex outlay of Rs 820 crore for next 2 yrs.

Mumbai, Apr 28 (UNI) Aditya Birla Nuva (A B Nuva) today announced an outlay of Rs 820 crore for capital expenditure, including investment in insurance up to Rs 340.4 crore, in fiscals 2007 and 2008.

Company's Managing Director Sanjeev Aga said they would invest upto Rs 111.8 crore on Carbon black, Rs 94.6 crore on fertilisers, Rs 78.1 crore on textiles, Rs 67.8 crore on chemicals and 38.1 crore on garments, while modernisation of units in all the segments of the company will cost about Rs 329.2 crore.

Overall, the outlook for A B Nuva is optimistic given its strategic thrust, growth and capex initiatives taken in each of the businesses, he told the media here. He said ''Madura Garment thrust will continue in retail expansion, mechandise management and optimisting cost.'' While Carbon black will push volumes in domestic market, the Insulator Joint Venture will continue its emphasis on higher value products and yield improvement, he said.

Birla Sun Life insurance's emphasis is on increasing the branch network and strengthening its agency force while enriching its product portfolio, Mr Aga said. BPO and IT services have also geared up its performance through expansion and optimal utilisation of its seat capacity though existing and new clients and improving delivery capabilities.

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