The plant, to be set up in the Sanand industrial Estate, near Ahmedabad, will commence its operations in 2015. It will generate employment for around 400 people. The company also plans to invest at least Rs 150 crore more to build three more plants in north, south and east India in the next few years.
Speaking at the announcement of the plant launch, Sanan Angubolkul, chairman and president, Srithai Superware PCL said: Having a manufacturing unit in India, we are expecting exponential growth in the business, as customers can get the products faster and at better prices.
As part of its growth strategy, Srithai Superware India intends to delve deeper into Indias smaller cities and towns by having a varied price range to suit all pockets. The company also plans to export the products to South Asian countries, once the manufacturing unit is operational, he added.
Srithai Superware sells its products through direct selling channels. Indian unit of the company has about 25,000 housewives from 26 cities selling its products across the country.
The sales in the company's India subsidiary was Rs 25 crore in 2013. Our sales in 2013 was Rs 25 crore and we have a sales target of Rs 40 crore for 2014, said Rakesh Singh, director, corporate strategy and operation development, adding, Srithai Superware is targeting sales of Rs 400 crore by 2020.
Asked about the company's decision to set up its first plant in Gujarat, Singh cited business-friendly environment, lack of bureaucratic red tapes in the state as well as accessibility to ports among the main factors.
Srithai Superware is one of the largest manufacturers of 100 per cent Melamine tableware globally. It also manufactures plastic products for food and beverage packaging. the company is a major supplier of melamine products to the airline and cruise liner industries.
Srithai Superware initially entered the Indian markets in 2009, marketing their Ektra range of products. Earlier, the company supplied melamine tableware products to Indian Airlines.
At present, Srithai Superware is in talks with PVR Cinemas to supply its products to multiplexes.