The Board of Directors of Somany Ceramics has decided to make investment of Rs 42 crore in the share capital of Sudha Somany Ceramics, a subsidiary of the company in one or more than one tranche.
The proposed investment is towards capacity expansion of 3.6 million sq mtr per annum of Glaze Vitrified Tiles (GVT). It also decided to make investment of Rs 90 crore in the share capital of Somany Piastrelle, a wholly-owned subsidiary of the company in one or more than one tranche.
The proposed investment is towards setting up a greenfield project of 3.48 million sq mtr per annum of Glazed Vitrified Tiles at Dhanot, Gujarat.
The Board also approved modernisation-cum-expansion of the production line of double fast firing to produce large format wall tile at the Kassar plant of the company through an investment of Rs 45 crore.
The existing capacity of the plant is about 7,000 sq mtr per day of wall tile which is being fully utilised. After the proposed modernisation, the capacity will increase to about 16,000 sq mtr per day and will be completed by Q4/FY22.