Vadodra-based Kemrock Industries and Exports Ltd has chalked out an investment plan of Rs1,350-1,800 crore ($300 to $400 million) in the next four to five years, its chairman and managing director Kalpesh Patel said.
Talking to the newsmen after commissioning India's first carbon fibre facility, which will help make the defence, aerospace and infrastructure sectors self-sufficient in carbon fibre technology, Patel said the initial manufacturing capabilities of 400 tpa will produce aerospace grade carbon fibre and prepregs.
He however refused to give more details on these projects, saying talks for setting up joint venture projects in this connection were in progress.
The commercial production of this facility will start soon and some percentage of its production will be exported to the USA, Europe and other countries after meeting the domestic requirements, Patel said.
The company intends make this investment for the new initiatives of Kemrock and its subsidiary firms. "Around Rs300 to Rs400 crore will be infused this year in its joint venture with German company Saertex," said Patel. The proposed funds would be raised by way of debt and equity.
The new carbon fibre manufacturing was inaugurated by A P J Abdul Kalam, former president of India. The plant has beenset up with technology know-how from CSIR-National Aerospace Laboratory, Bangalore, would serve the defence, aerospace and infrastructure sectors to lead the nation towards self sufficiency in carbon fibre technology.