Chennai, Oct 28 (Inditop.com) Lighting products and steel pipes manufacturer Surya Roshni Ltd is planning to set up a manufacturing unit in southern India, a top official said.
“We have good market share in southern India. In order to cut down our freight costs and expand our presence, we plan to set up a lighting and steel pipe plant in the region,” Jaiprakash Agarwal, chairman and managing director of Surya Roshni, told reporters here Wednesday.
Declining to specify the investment details, Agarwal said the company was looking for land somewhere between Tamil Nadu and Karnataka so that it could serve the two markets.
“The actual investment will be announced next fiscal after we complete our current expansion plans,” he added.
Surya Global, a 51 percent subsidiary of the Rs.1,750-crore Surya Roshni, has set up a steel pipe plant in Gujarat which is expected to be inaugurated next month by Chief Minister Narendra Modi.
Asked about Surya Roshni’s plans of manufacturing LED bulbs at its plants in Uttarakhand and Gujarat, Agarwal said: “The market is small to warrant any major investment. All players are currently importing LED bulbs.”
According R. Viswanath, assistant general manager of the company, the overall LED segment size in the country would be around Rs.100 crore.
Earlier, Agarwal launched the company’s energy saving T-5 and the T-8 tube lights.
“We are the first in the country to manufacture T-5 lamps. The lamp’s life is 15 years at a price point of Rs.35,” he claimed.
