Asian Granito Invests Rs 174 cr in Future Ceramic to Manufacture GVT Tiles

The wholly-owned subsidiary of Asian Granito India Limited (AGL), Future Ceramic has started its work on the glazed vitrified tiles (GVT) plant in Morbi, Gujarat. With the auspicious bhoomi pujan of the plant commenced on Friday, Future Ceramic – one of the largest luxury surfaces and bathware solutions brands in India – has invested nearly Rs 174 crore in its Morbi unit. Know more on SURFACES REPORTER (SR).

The Morbi plant will be manufacturing GVT tiles in 1200 mm X 1200 mm, 1200 mm X 1800 mm, 1200 mm X 2400 mm, 800 mm X 1600 mm and 800 mm X 2400 mm formats in order to tap the vast potential in the GVT space. The plant has been installed with a capacity of 6.60 mn sqm per annum, where it is expected to generate revenue of Rs 300 crore at the optimum capacity. Furthermore, the expansion plan is expected to take the company closer to its goal of achieving Rs 6000 crore as Future Ceramic is a part of AGL’s mega expansion plans for which it raised Rs 441 crore through the rights issue.

Going forward, under its mega expansion plan, AGL is also expected to set up three state-of-the-art manufacturing facilities at Morbi, Gujarat in value-added luxury surfaces and bathware segments including GVT tiles, sanitaryware and SPC flooring. The company is also setting up one of India’s largest display centres at Morbi.

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