Tiles manufacturer Simpolo Vitrified will invest ₹350 crore to set up a new plant in Andhra Pradesh, the group’s Chairman and Managing Director Jitendra Aghara said. The group will also invest ₹650 crore to expand its production capacity at Morbi, Gujarat. With its annual turnover expected to be about ₹1,600 crore this financial year, Mr. Aghara told The Hindu that the sale of 27-28 million sq.mt of tiles this year will increase by 20 million sq. mt with the commissioning of the two facilities in two years.
Simpolo, which opened a gallery at Lakshmi Ceramics in Coimbatore on Tuesday, exports 25% of its total production. Opening of the new plant at Andhra Pradesh would help it expand its reach in the southern States, it said.
