Chennai, Jan 21 (IANS) Lighting products manufacturer Surya Roshni plans to invest Rs.15 billion (Rs.1,500 crore) for setting up a cement mill and a steel pipe plant in Gujarat and foraying into the street light segment, a senior official said here Wednesday.
'We are mulling a cement plant in the Kutch region in Gujarat at an outlay of Rs.10 billion. Also, we have signed a memorandum of understanding with the Gujarat government for setting up a steel pipe plant at an outlay of Rs.4 billion,' company's chairman and managing director Jaiprakash Agarwal told reporters.
He said the cement project will be executed by Surya Global Cement Ltd and the steel pipe project by Surya Global Ltd. Both firms are 51 percent subsidiaries of Surya Roshni.
Agarwal said Surya Roshni will foray into the high mast and street light segment with metal halide and sodium vapour lamps with an investment of Rs.1 billion. The products will be manufactured at its Gwalior plant in Madhya Pradesh.
On the production of compact fluorescent lamps (CFL), he said: 'We will be increasing our production of CFL by one million pieces to three million pieces per month in a year and later to five million pieces.'
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