Roca India is planning to set up a greenfield integrated manufacturing plant in Gujarat.
Indian arm of Spanish Roca Group, the sanitaryware maker has firmed up a Rs 250 crore capital expenditure plan in the country.
Its Managing Director K E Ranganathan was quoted as saying by PTI that the company enjoys 36 percent share of the Rs 2,500 crore organised sanitaryware market in India and hoped that the economic situation in the country would get stabilised soon.
He added: “Roca is here for a long haul and we are not perturbed with the current slowdown. It is a short-term issue. We are evaluating an integrated greenfield manufacturing facility in Gujarat.”
Stating that the company is open for acquisition if there is a good asset, he said, “There are no manufacturing assets with large capacities in the market. We had already earmarked Rs 200 crore for acquisition or a greenfield plant and another Rs 50 crore for existing seven plants.”
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