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HSIL To Set Up Heating Solutions Plant With French Partner Groupe Atlantic In T
Hyderabad: Sanitaryware firm HSIL Ltd, that has invested over Rs 1,500 crore in Telangana in the last nine years, has zeroed in on Telangana again to set up its new heating solutions manufacturing facility with French partner Groupe Atlantic.
“The company has decided to set to set up a manufacturing facility for heaters with the French joint venture partner which is considered to be the best in the world,” Telangana IT and industries principal secretary Jayesh Ranjan said here on Wednesday during an interaction with Ficci executive committee members.
According to sources, the JV is expected to be announced in two months time as the contours of JV are still being finalised and is yet to be approved by the French player. While HSIL has sought an 10-acre land parcel for the project, it will be investing around Rs 80 crore in the project.
“HSIL has a partnership with $3 billion French MNC, Groupe Atlantic, who are the largest in Europe for heating solutions and will be entering into a JV for setting up the plant in Telangana. It is slated to be a production base not only for India but also Asia…The JV has not been announced but the strategic alliance has been place for the last three years,” the source added. Groupe Atlantic has 23 manufacturing sites globally, of which 11 are in France and one is in India at Dehradun.
In fact, of HSIL’s 12 manufacturing units, six are in Telangana. In the state, HSIL manufactures 275 million pieces per annum of security caps and closures at its Medak unit, 2,313 tonnes per annum of PET bottles and plastic products in another unit at Medak, 950 tonnes per day of glass containers at Bhongir plant, 650 tonnes per day of glass containers at Sanathnagar plant, 14,000 tonnes per annum of plastics pipes and fittings at Medak and finally, upto 2.2 million pieces per annum of sanitaryware at Bibinagar unit. In fact, the company runs the country’s largest ceramic plant as well as glass facility in the state.
Source: Times of India
