AP News Business Goldstone To Set Up Rs. 5 Crore Plant
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| Goldstone To Set Up Rs. 5 Crore Plant |
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Goldstone Teleservices Ltd is set to tap the Rs.600-crore market for heat shrinkable sleeves for oil and gas pipeline joints by indigenously producing them in the country.
L.P. Sashi Kumar, managing director, and Surendranath, executive vice-president told a press conference here on Friday that a plant at Cherlapally near Hyderabad for manufacturing corrosion protection heat shrinkable sleeves was being set up with an initial investment of Rs.5 crores. It planned to invest another Rs.6 crores in the plant. The company would target a market share of Rs.5 crores in the first year. Mr. Sashi Kumar said Goldstone was expecting to double its turnover of Rs. 60 crores this year. It had orders worth Rs.45 crores for indigenous silicone rubber composite insulators for transmission and distribution lines. SOURCES: The Hindu             |