Parryware to invest Rs 500 crore for expansion

Chennai, June 17 (UNI) As part of its expansion plans, Parryware Roca Private Limited, a 50:50 joint venture between EID Parry and Roca Sanitario, will invest Rs 500 crore (about 100 million euro).

The investment would be infused to increase capacities in all its four existing plants and to bring new technology, Parryware Roca Managing Director K E Ranganathan told reporters here.

He said the company proposed to transfer Roca technology from Spain to the plants.

Currently the four plants were producing 4.5 million units of sanitary products annually, he said and added that the technology transfer and expansion of capacity would produce nearly six million units.

The company would also add 40 new Roca exclusive and common showrooms across the country. It had already opened 15 such showrooms in the last two months, he said.

There would also be 50 exclusive Roca dealers in India, Deputy Managing Director Emilio Salazar said.

According to the statistics, the total sanitaryware market was Rs 850 crore in India, he said and added the organised sector accounted for Rs 450 crore.

UNI