Kothari Industrial Corporation's Aggressive Expansion Plan Unveiled

Kothari Industrial Corporation Ltd, under Vice-Chairman J Rafiq Ahmed, has announced an aggressive expansion across various sectors. The company will focus on footwear, fertilizers, food, drone technology, and synthetic textiles. The total project cost is estimated to be Rs 16,000-17,000 crore over the next two years.

Kothari Industrial Corporation Ltd, with a new promoter on board, has outlined comprehensive expansion plans across multiple segments, according to a top executive.

The company aims to diversify into footwear, fertilizers, food, drone technology, and synthetic textiles, creating significant employment opportunities, said Vice-Chairman and Managing Director J Rafiq Ahmed.

Ahmed, who became an investor in 2014 and has been Vice-Chairman since 2018, currently holds a 47.08% stake in the company. Post open offer, his stake could rise to 73.07%. The company, delisted in 2000, was recently relisted.

Discussing the company's future, Ahmed stated, "We plan to grow very aggressively and restore Kothari's former glory. We are in talks with Sheikh Falah Bin Jassin Bin Jabor Al Thani to set up a Rs 7,000 crore fertilizer factory in Qatar and also considering expansion in neighboring countries."

Additionally, two non-leather footwear factories are planned for Tamil Nadu, and a component cluster in Perambalur has already seen 23 partners sign up.

The company has also ventured into food and drone technology, setting up India's first drone training school in Madurai and planning more across Tamil Nadu with future national expansion.

Overall, the project costs to be around Rs 16,000-Rs 17,000 crore over the next two years, with details on shareholding and investment structures yet to be finalized.

(With inputs from agencies.)