On back of a healthy growth in the first quarter of the current fiscal, Godrej Industries Limited (GIL) is planning a major expansion in its agri and chemical businesses at an investment of around Rs 300-crore, a top company official said.
Godrej Industries has earmaked Rs 230-crore for setting up a new chemical manufacturing unit at Ambernath, near Mumbai. Another Rs 75-crore will be invested in its animal-feeds arm for expansion, he said.
"The last quarter has been very positive for Godrej Industries--the chemical and agri-feeds subsidiaries have posted strong growths. We are looking at setting up 4-5 animal feed units at an investment of Rs 10-15-crore each in Maharashtra, UP and south India," GIL's Managing Director, Nadir Godrej, told media today.
However, he did not divulge any further details. Godrej currently has 6-7 company-owned units besides operating 20-30 third party units. The total production capacity is around 1-million MTPA.
The upcoming units will add another 1,00,000 MTPA to the existing ones, Godrej said.
"Animal feed contributes around 50 per cent of the total revenues of Godrej Agrovet (Rs 1,500-crore) and we expect a 15-20 per cent growth here this fiscal," Godrej added.
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