ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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EXCEL INDUSTRIES-Turning the Corner

Tyre Project Delayed KESORAM INDUSTRIES' tyre project has been held up due to "undue delay in obtaining import licences for plant and machinery". The company has taken possession of land for the factory at Balasore in Orissa and construction work is to start shortly. Negotiations with the suppliers of plant and machinery are in the final stage, but orders will be placed on receipt of the import licences. The company has letters of intent for doubling the capacity of Vasavadatta Cement to 10 lakh tonnes per annum and also for a sponge iron project with a capacity of 1.5 lakh tonnes per annum to start with. But the management intends to give first priority to the tyre project and to take up other projects later on in view of the financial constraints.

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