Float glass maker Gold Plus raises Rs 400 crore from Premji Invest

By: | Published: August 9, 2018 5:06 AM

Premji Invest, the family investment arm of Azim Premji, has invested Rs 400 crore in domestic float glass manufacturer Gold Plus Glass Industry.

Premji Invest, Float glass maker, Gold Plus,  real estate replacementAccording to a press release from Gold Plus, it will utilise the fresh capital to fund expansion plans. The firm also said it will invest Rs 2,000 crore to add two new float glass lines in India.

Premji Invest, the family investment arm of Azim Premji, has invested Rs 400 crore in domestic float glass manufacturer Gold Plus Glass Industry. According to a press release from Gold Plus, it will utilise the fresh capital to fund expansion plans. The firm also said it will invest Rs 2,000 crore to add two new float glass lines in India. It currently operates two float glass lines, clear glass and tinted glass, with a combined installed capacity of 427,000 tonne per annum.

“This expansion is targeted to capture the exponential growth in demand estimated to be witnessed by the industry from mega government initiatives like the announcement of 100+ smart cities, development of airports, metros, large infrastructure projects, increased use of energy efficient materials in construction and high demand from the real estate replacement; redevelopment market,” the firm said.

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