NCL Veka kick starts Rs 50 Crore uPVC Profile Extrusion facility
NCL Veka, makers of uPVC (un-plasticised polyvinyl chloride) products for buildings, Wednesday announced the commissioning of its newly built Rs 50 Crore uPVC Profile Extrusion facility in Medak District of Telangana. Telangana's Principal Secretary for IT and Industries Jayesh Ranjan opened the 1,20,000 square foot 18 extruders line constructed on 16.8 acres, a press release said.
The manufacturing facility, providing employment for 450 people, directly and indirectly, will produce new generation VEKA uPVC profiles to serve the domestic and MEA markets, it said. Announcing the commissioning of the plant, Chief Executive 0fficer of NCL VEKA, Ashven Datla said: "the plant enhances our capacity to produce 24,000 tonnes of profiles, translating to window requirements for 3,00,000 homes per year.
We will continue to invest towards attaining phase wise expansion to 30 uPVC extruders lines to support our growing market." Andreas HartleifCEO, VEKA said, "We will use this facility to multiply our market share in India and export to the Middle East and African (MEA) markets." NCL VEKA, a Joint Venture between NCL Group (Hyderabad) and VEKA GROUP, (Germany) had announced in the last fiscal Rs 25 crore fresh investments in machinery, product enhancements, new show-rooms and marketing outlay. The release further said NCL VEKA would cross a turnover of Rs 200 crore for FY 2018-19 and has built strong partnerships with over 100 specialist fabricators to serve markets across India.
VEKA is a USD 1.2-billion company with operations in manufacturing units in 18 countries, while NCL is a Rs 2,000 crore building materials manufacturer based out of Hyderabad, the release added.
(With inputs from agencies.)
- Heart's motion may be used to power implantable devices like pacemakers
- Opposition to form 'People's Front' in Telangana to take on BJP in Lok Sabha polls
- Cong, TDP, CPI, TJS may join hands for LS poll in Telangana
- MoU between Oppo-Telangana govt to support, develop startup ecosystem
- GM pickup truck plant in Flint, Michigan, to add 1,000 workers