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Chennai: The Chennai-based computer manufacturer CCS Infotech Limited has decided to form a joint venture company in South Africa with its marketing partner there. According to the managing director M A Hassan Abdul Kader, the Indian company is content with 49 per cent shareholding in the proposed South African joint venture. Meanwhile the company putting off its rights issue is looking at debt and private equity for funds. The company has drawn up an expansion plan requiring around Rs20 crore. "It is not that the promoters lack funds to subscribe for the rights issue. We will fund the expansion project from internal accruals, debt and private equity," said H Ratna Kumar, director. The company plans to double the production capacity of its Pondicherry plant to 200 units per day. According to Kumar, part of the expansion project is the South African joint venture and setting up our own assembling facility in Singapore. In the domestic market the company is focussing on the institutional segment. Recently the company received a Rs4.4 crore order from Neveyli Lignite Corporation Limited for supply and maintenance of computers, servers, printers and others.
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