Finolex Industries Ltd (BSE -500940) and NSE-FINPIPE), a leading manufacturer of PVC pipes in India, announced it has commenced commercial production of PVC pipes at its manufacturing plant at Masar near Vadodara in Gujarat.
Finolex Industries had entered into a MoU with the Gujarat government during Vibrant Gujarat 2011 Summit for setting up this plant at an investment of approximately Rs 100 crore.
The plant is set up on an area of around 29 acres and will go into production in two phases.
This is the first plant of Finolex Industries outside Maharashtra, where the company has two manufacturing plants.
"Friendly industrial environment in the state of Gujarat prompted Finolex Industries to set up a plant for the first time outside Maharashtra. The plant is strategically located to cater to the dynamic and ever growing agriculture and real estate market of not just Gujarat but also Northern states," said Prakash Chhabria, Executive Chairman, Finolex Industries Ltd.