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| Exchange Disseminated Time | Goldstone Teleservices Ltd on July 29, 2007 has announced that it will be investing a total of Rs six crores in 2007-08, including Rs three crores to expand the production of its insulator division, and another Rs three crores in R&D in Nanotechnology. The capital expenditure and the investment in R&D will be met through Internal accruals.
The Company's high-performance silicon rubber polymer insulators for application in Distribution and Transmission power systems have emerged as a key growth driver for the Company. The composite insulators have round wide application in power utility Companies in the country, which are replacing conventional porcelain insulators with the silicon rubber insulators.
Another emerging growth segment for the Company is corrosion protection heat shrinkable sleeves for oil and gas pipelines. With the expected growth in new oil and gas pipeline construction, the addressable market for joint coating system is estimated to be Rs 200 crores in 2007-08. Having completed the testing of the joint coating system by DVGW Laboratories of Germany, Goldstone, the only company set to manufacture the product in India, expects to get a substantial portion of this market.
"With the oil and gas sector growing at a healthy pace, the demand for pipelines to evacuate them is increasing. The demand for our special corrosion-resistant system is expected to post a robust growth," says M Surender Nath, Executive Vice President of the Company. |
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