Kerala firm to tie up with Oman company

Thursday, 21 August 2003, 07:00 Hrs
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THIRUVANANTHAPURAM: Kerala's Rubber Cooperative Ltd. (RUBCO) is entering into a tie-up with an Oman-based firm to manufacture coconut products.

E. Narayanan, chairman of RUBCO, announced the venture at a press conference here Thursday.

"I am sorry that at this point of time, I am unable to name the company from Oman. The deal for collaboration will be signed next month here. They will help us by providing technology and funds," Narayanan said.

Under the tie-up, RUBCO will procure both tender and ripe coconuts. Tender coconut water will be bottled and the ripe coconuts will be used to extract oil. Earlier oil was extracted after drying the coconuts.

The branches of the coconut tree will be used to produce fibre and the coconut shells to make carbon.

"Production of carbon is being done with the help of a company from the U.S. We have planned a 13.5 billion expansion. The funds are going to come in from Singapore, the U.S., the Middle East and certain other countries," said Narayanan.

"Through this new investment we are hopeful of creating close to 10,000 new jobs. Also planned is a tyre manufacturing and shoe manufacturing unit."

RUBCO was set up in Kannur in 1997 to help rubber growers through procurement.

Apart from manufacturing rubber slippers, RUBCO has a foothold in the furnishing market and exports its products to several countries. The firm uses processed rubber wood to make furniture. Its turnover last year was around 1 billion.

Source: IANS
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