New book by Larry Connors Click here Improve your trading - See how
"After completion of this (Kandla) project, we will reach a capacity of 10 lakh kms per year. The first phase will be completed by June this year," Aksh Optifibre Chief Operating Officer Chetan Choudhari told PTI.
He said the company has funded the project from 40 million dollars that it had raised through GDRs and FCCBs last year. He claimed with the commissioning of the plant, the company would become the "world's largest FRP rods manufacturers".
The other global leading players in the FRP space include US-based Neptco, Germany's Polystal and Austria's IPT.
The company had invested Rs six crore in the first phase, Choudhari said, adding the capacity available after the phase will be 3.5 lakh km per annum.
"The second phase, which we expect to begin by December this year, will depend on how the market behaves," he said adding that the second phase would also entail an investment of an additional Rs six crore.
Aksh is currently manufacturing FRP rods at its facility at Reengus in Rajasthan and has a capacity of 6.5 lakh km.
"The Kandla unit will help us save about 30-35 per cent of the freight component of the total costs on both sides and also reduce transit time for our customers. Also, we are looking at the tax benefits since the project is in a Special Economic Zone (SEZ)," Choudhari said. The company has a market share of 20 per cent globally and is targetting to increase the share to 25-30 per cent in 2009. It is currently exporting its products to companies in the US, Europe, Saudi Arabia, Iran, Oman, Japan and South East Asia.
FRP rods are used to strengthen optical fibre cables and is used by optical fibre cable manufacturers globally. The FRP rods market was worth about Rs 12 crore in the country and about Rs 500 crore globally by the end of 2008.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
