Asahi India Glass plans to invest Rs 700 cr

India's biggest glass firm Asahi India Glass today said it plans to invest upto Rs 700 crores over the next three years for setting up a float glass plant and capacity expansion.

The company, which currently has a float glass plant at Taloja in Maharashtra, is looking at setting up a new one which would require about Rs 400-500 crore investment.

"We are looking at setting up a plant in the north, though nothing concrete has been finalised as yet. The company's board has to look into this matter," Asahi India Glass Managing Director and Chief Executive Officer Sanjay Labroo told newspersons here.

The company, a joint venture between Japan's Asahi Glass Co, Labroo family and Maruti Udyog Ltd, also announced the establishment of a new subsidiary, AIS Glass Solutions.

600450 Asahi India Glass plans to invest Rs 700 cr
Date: 5 August 2004

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