HNG Group, the market leader in container glass industry has entered the float glass segment with the firing up of its first float furnace in Halol, Gujarat. Starting up with a production capacity of 600 tonnes per day, HNG Group has aggressive plans for this new business. HNG Float Glass Ltd. aims to capture upto 25% market share in the next two years. For further upscaling, the plant has provision for a second float line which can support an additional 850 tonnes per day.
Signed at the Vibrant Gujarat meet in 2007, the plant has been completed in a record time of 22 months. The plant has been financed by its parent company HNGIL, International Finance Corp., a subsidiary of the World Bank and DEG, Germany with a debt equity ratio of 60:40.
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HNG Group Fires Up Its First Float Furnace In Gujarat
Date: 24 December 2009
Source: Indiainfoline.com
For further upscaling, the plant has provision for a second float line which can support an additional 850 tonnes per day. With an aim to further strengthen its leadership position in the glass industry, the Rs15bn.