Indian float glass manufacturer Gold Plus Glass Industry (Gold Plus) has confirmed plans to expand capacity by 700,000 tonnes a year – its largest capacity expansion to date.
The company wants to add two float glass lines and one solar glass line to its existing capacity.
Gold Plus is the only Indian owned float glass manufacturer and presently has two float lines in Roorkee, Uttarakhand with installed capacity of approx. 460,000 metric tonnes annually.
Its facility at Roorkee is spread across 100 acres and produces clear, tinted, solar control reflective, frosted glass, mirror float glass.
The company also has a processing unit to cater to high value glasses such as toughened, laminated, insulating, ceramic printed, acoustic, bulletproof, and automotive.
The total project outlay is said to be in tune of INR 2,200 - 2,300 Crores, and the company is already in discussion with Government authorities of at least two southern states for land allotment and capital/ revenue subsidies.
The company is likely to finalize the state and the land parcel in the next three to five weeks. The organiation is targeting revenue of more than INR 3,000 crores with the capacity expansion.
Mr. Jimmy Tyagi, Whole time Director - Gold Plus Glass Industry said: "The management of the company takes pride in being the only Indian owned/ controlled float glass manufacturer and has laid out a clear plan to further entrench its position in the industry.
"The company has been eyeing capacity expansion for last couple of years and have finally decided to move forward now considering the overall positive business environment and government policies supporting the domestic glass industry.”