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Prince Pipes plans Rs 100-cr plant in Bengal
Kolkata, Sept 13: pipes major Prince Pipes and Fittings is looking to invest up to Rs 100 crore for a manufacturing facility in the state.
"We have plans for a manufacturing facility in the east by 2017-18. We will consider West Bengal for our eastern plan and looking to invest somewhere between Rs 75-100 crore, " Prince GM Marketing Hemant Kumar said.
The company currently has six plants in south, west and north India with a total capacity of 90,000 mtpa. The new facility will help the company to have a greater competitive edge in the eastern region. Kumar said by 2017-18 it will able to garner critical volume for feasibility.
He claimed that the company commands about 10-11 per cent market share in the Rs 10,000 crore PVC pipes and fittings industry.
The company has tied up with Polish firm Trelleborg for sealants. Prince will use sealants in its premium pipes from Poland with this tie up, which is for a period of one year.
Trelleborg Business Development Manager Asia Pacific Martin Boerma said, India is an important market over China. "China is not willing to pay for quality but Indian market values quality," he said.
PTI
