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Tata Refractories plans Rs 84 cr expansion
By siliconindia
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Thursday, 05 June 2003, 19:30 IST
BHUBANESWAR: Tata Refractories Ltd (TRL) plans to invest Rs 84 crore in expanding its main works at Belpahar in Jharsuguda district.
The investment would be made in expanding the production capacity from 1,23,000 tonne to 1,75,000 tonne over a five year period of 2003-07, TRL managing director, CD Kamath told reporters on Tuesday.
Fifty per cent of the funds would be generated internally and the rest was expected to come from equity participation and debt, he said.
The company was set up in 1958 jointly by Tata Steel and Didier-werke of Germany.
While 58 per cent of the investment would be meant for quality and yield improvement, 30 per cent would be intended for increased productivity, he said.
The company posted a turnover of Rs 244 crore and achieved production of 1,09,914 mt during 2003-03. It aims for a turnover of Rs 500 crore by 2008.
The company also aims to increase its market share to 24 per cent from 18 per cent, and its global market share to one per cent from 0.5 per cent, he said.