Chemplast to spend ₹620 crore on expansion
The Hindu
Firm to raise ₹3,850 cr. via IPO, OFS
City-based Chemplast Sanmar Ltd. will spend ₹620 crore on expansion and development over a period of two to three years, according to a top official. “All our manufacturing units are in Tamil Nadu as it offers best investment climate. We have a strong position in the South with respect to manufacturing and markets,” Vijay Sankar, chairman, told The Hindu. He also said that they would prefer to stick to Tamil Nadu as they had been here for over five decades. “We don’t believe in going outside Tamil Nadu for now as it is conducive for putting new plants,” Mr. Sankar said.
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