SAGL to invest Rs1500 cr in float glass industry

SAGL to invest Rs1500 cr in float glass industry
PTI
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First Published: Sun, Aug 30 2009. 05 50 PM IST
Updated: Sun, Aug 30 2009. 05 50 PM IST
Silvassa: Sejal Architectural Glass Limited (SAGL) has chalked out an ambitious plan of investing Rs1500 crores for meeting increasing demand of float glass in the country, a top company official said.
“The demand for float glass manufactured in the country is 3,000 tonnes per day against about 1500 tonnes manufactured every day. So we are thinking of setting up of two more float glass plants at Jhagadiya in Bharuch district,” Amrut Gada, chairman and managing director of SAGL told PTI.
The company’s first Rs588-crore float glass plant that was set up in Jhagadiya, has commenced its operations and has the capacity to produce 550 tonnes per day of float glass.
“The purpose behind acquisition of the huge land in the GIDC estate at Jhagadiya was a part of long term vision as demand for the float glass keeps on increasing worldwide incuding India,” said Gada.
This demand is expected to continue for the next five years, he said, adding the company manufactures processing glass at its existing plant located at Silvassa in the union territory of Dadra Nagar Haveli.
The total float glass manufactured in the country is approximately one million tonnes per annum and the demand for float glass is growing at a CAGR (cumulative average growth rate) of 15-20% during the last two to three years, barring the economic slowdown, Gada said.
The float glass manufactured at SAGL’s Jhagadiya plant will be processed at Silvassa, he said.
For meeting fuel requirement for its Jhagadiya plant the company has also tied up with GSPL (Gujarat State Petroleum Corporation Limited) for natural gas and power grid of Gujarat Urja Vikas Nigam Limited.
The company has set up 7 mw gas based power plant for meeting its power requirement at Jhagadiya. It has also set up a laboratory for ensuring the quality of raw materials used for manufacturing of float glass, Gada added.
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First Published: Sun, Aug 30 2009. 05 50 PM IST