Gujarat Foils will invest Rs.60 crore each in two phases for the capacity expansion of its aluminium foils. Of the total investment, around Rs.43 crore loan will be taken from financial institutions to fund the investment and the remaining will come from internal accruals and contributions from promoters.
Work on Phase I, with investment of Rs.60 crore has already been started and the capacity of aluminium foils will be enhanced from 3,000 tpa to 7,000 tpa. Phase I will be completed by August 2009
In the second phase, the company will invest another 60 crore by December 2009, which will mainly be used for backward integration. It will be set up an aluminium rolling mill. |