CHENNAI: Godrej and Boyce is planning to expand its footprint in Chennai by setting up another manufacturing facility in the outskirts of the city and is likely to invest around Rs 350 crore to Rs 400 crore, according to Vikas Choudaha, executive vice-president and business head of Godrej Solutions.
Addressing reporters here on Wednesday, Choudaha said the expansion of the company, which is into manufacturing of pallets and shelves, is being planned to augment production capacity in view of growth in the sector for the next two decades. The investment would be in a phased manner.
The 27-acre Ambattur plant has a capacity of 90,000 tonnes per annum and it has touched up to 66,000 during peak time. "This year we are planning to produce more and the plant is efficient for the next 18 months," said Choudaha. He said that the company is looking at a similar size of land parcel for the new plant. “If we have to have a similar capacity plant then the investment would be around Rs 350 crore to Rs 400 crore plus the land,” he said.
Targetting a turnover of Rs 500 crore in exports by the financial year 2027-28, he said the company is aiming at the overall growth of Rs 1,600 crore in the next two to three years.