UAE-based RAK Ceramics to Invest Rs. 75 Crore in India.

UAE-based vitrified tile maker RAK Ceramics plans to invest Rs. 75 crore in a year to boost its production capacity in India, a top executive of the company said recently.

While Rs. 50 crore would be invested to acquire a majority stake in an already existing plant in Morbi in Gujarat, the remaining investment wwould be made to increase the capacity of the company's existing plant at Samalkot in Andhra Pradesh.

The company has already invested a sum of Rs. 30 crore in its Samalkot plant early this year, to manufacture 2,000 tiles a day, from its earlier existing production capacity of 1,000 pieces a day.

'We are in joint venture talks with an existing tile manufacturing plant in Morbi in which we will invest Rs. 50 crore during 2015 by picking up a 51 per cent stake in it.

'The joint venture partnership is likely to help us increase our tiles manufacturing capacity to 3,500 tiles per day from the currently existing capaticy of 2,000 tiles in an year's time,' RAK Ceramics Chief Executive Officer Santosh Nema told PTI.


THE NEW INDIAN EXPRESS