Oswal Ind to invest Rs. 90 cr to build plant, boost capacity.

Oswal Industries, makers of high-end valves for sectors such as oil and gas, mining, power and fertilisers, plans to invest Rs. 90 crore to expand its valve capacity and set up a new skids plant in Mehsana in Gujarat.

Jitendra H Bokadia, Managing Director, Oswal Industries, said the company has 24 acres in Mehsana and will invest in Rs. 50 crore in setting up the plant.

'We are also upgrading our existing facility in Gandhinagar (Gujarat) to produce higher alloys such as duplex, exotic alloys and cryogenic and critical application valves,' he said. On the downtrend in the oil and gas sector, Bokadia said the company is getting more orders now from whatever projects that are being executed as companies want to source quality products at competitive prices.

Moreover, he said, the company is targeting orders from both new and existing projects.

Apart from shale gas projects in the US, Oswal targets Kuwait, UAE, Oman, Qatar and Africa. The company has its own foundry at Kalol in Gujarat to make inputs for making valves.

The company supplies valves to Exxon, British Gash, Alstom, Bechtel, ABB, Mobil and many other leading companies in petrochemicals, refineries, power, steel, chemical and fertilisers, offshore drilling.

The company expects additional revenue of Rs. 100 crore from the skids business and the Group's turnover to touch Rs. 500 crore from Rs. 200 crore in three years.


HBL