Gold Plus Glass receives Rs 4 billion from Premji Invest for expansion

Gold Plus Glass Industry Limited has raised Rs four billion from Azim Premji’s investment arm Premji Invest to fund its expansion plans.

A domestic float glass manufacturer and a dominant player in the building and architectural glass segment, Gold Plus said it will invest over Rs 20 billion in the next three-four years to add two new float glass lines in India.

According to Gold Plus, Premji Invest’s funding will help the company increase its capacity by an additional 730,000 tonnes per annum.

Through this expansion, Gold Plus plans to cater to the increasing demand, reduce the dependence of significant glass imports, thereby contributing towards the Make in India initiative and also creating large-scale employment opportunities.

Currently, Gold Plus operates a fully integrated manufacturing facility at Roorkee in Uttarakhand that is spread across 100 acres.

Image Credit : bsmedia.business-standard.com

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