Plastiblends to set 5,000 TPA unit in Uttaranchal by Mar'07

New Delhi, July 31 (UNI) Daman-based Plastiblends India Ltd (PBI) today said it will set up a new unit at Uttaranchal with an initial capacity of 5,000 tonnes, which will be operational by March 2007.

The company is also expanding capacity at its existing facilities at Daman from 24,000 tonnes to 35,000 tonnes in phases by March 2007, taking the total cost of both the projects to Rs 20 crore.

PBI will finance these projects through internal accruals and funds available with it. The company has cash reserves of more than Rs 25 crore and is long-term debt-free, a company statement said.

Commenting on the expansion, PIB CMD S V Kabra said, ''Expansion would enable us to meet the growing demand for our products in the domestic and export markets. We plan to achieve significantly higher contribution from exports by widening our market reach.'' The company has the lowest capital and operating costs per tonne in the industry. The expansion will enable the company to effectively cater to customers across the country. Additionally, the Uttaranchal project offers excise duty benefits.

PBI manufactures various types of Master Batches, Compounds, Blends and Alloys for the plastics industry.

UNI RA PV VP1307