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| Exchange Disseminated Time | Aro Granite Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 20, 2006, inter alia, has approved the expansion project of the Company.
Considering the growing international demand for granite tiles & slabs and the order book position of the Company, the Board of Directors decided to increase the existing production capacity or both tiles and slabs manufacturing process by 360,000 Sq Mts and 95,000 Sq Mts respectively. The Company expects to complete the expansion by December 2006 at that point the total production capacity of tiles would be 540,000 Sq Mts and Slabs 390,000 sq Mts respectively.
The total outlay for the expansion is about Rs 340 million being funded by debt of Rs 240 million from ICICI bank Ltd and balance from internal accruals. The Company does not propose to raise capital for this. |
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