Khaitan to set up new plant in Uttaranchal

Kolkata, Nov 22: Khaitan Electrical Limited will set up a new plant in Dehradun in Uttaranchal with an investment of Rs 10-12 crore.

Speaking at a press conference here today, company Managing Director Sunil Khaitan said, "the total capacity of this plant will be 1.5 million per annum." The unit will be ready for production by March, 2008.

"We will raise money for this project through internal accrual and private placement," he said.

The company has also targetted a turnover of Rs 700 crore in 2007-08. The expected turnover for 2006-07 is Rs 350 crore, he said.

The company is planning to reach the targetted turnover by introducing new product lines like water heaters, electric friers, food steamers and designer fans, he added.

Khaitan Electrical will also start two retail outlets under the brand names of Khaitan City and Khaitan Fantasy across the country.

Khaitan Fantasy would sell high value designer fans.

UNI