Redstar Plastick breaks ground for its plant Sri City, Aug 22 (INN): Redstar Plastick Private Limited performed groundbreaking on Monday marking the beginning of construction of its production unit n Sri City.
Kanishka Karthikeyan, Managing Director of the company performed pooja and administered the ceremony.
The unit will be set up at an investment of Rs.10 crores in Domestic Tariff Zone (DTZ). The plant, which aims to produce import substitute products of excellent quality, viz., PVC edge banding tapes, is expected to be ready by next April. It targets to capture 40% of the domestic market share. As of now, only five or six companies make such product in the country, and hence more than 60 -70% of domestic demand is met by imports. The plant will create job opportunity for about 60 persons. Edge banding tapes which add elegant appearance with the protection are widely used by modular furniture manufacturers in the country.
News Posted: 22 August, 2016
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