Everest to set up 2nd manufacturing unit.

Building solutions company Everest Industries plans to set up its second manufacturing plant for pre-engineered buildings at Dahej in Gujarat.

With an annual production capacity of 60,000 tonnes, the plant will target projects in Gujarat, Maharashtra, Goa, Madhya Pradesh and Chattisgarh, besides parts of Rajasthan and the southern States.

The company has said it finds it difficult to tap the fast-growing demand for steel building in the West and the South with its first unit of similar capacity at Roorkee in Uttarakhand.

Manish Garg, President (Steel Building Division), said the new project entails an investment of Rs. 50 crore, which will be funded equally through internal accruals and external commercial borrowing (ECB).

'Despite the economic slowdown, the demand for steel building is growing among industrial projects as they are cost-effective and can be completed faster, compared to conventional buildings,' he said. The company has an order book of Rs. 250 crore, to be executed in 7-8 months.


HBL