New Finolex plant at Pondicherry

After consolidating its production at its new location at Verna, Goa, Finolex plans to go south, to Pondicherry. It proposes to set up another multi-product cables unit, similar to the one at Goa, by 2003.

"Finolex cables is a national brand. We want to exploit this advantage by going closer to the customer," says Mr P.P. Chhabria, chairman, Finolex group. "Apart from the fact that Pondicherry offers similar advantages as in Goa, such as sales tax and other benefits, about 30 per cent of our market is in the south, and production at a point nearer to the customer will give us an edge over competition."

Finolex expects to invest Rs 250 crore in the new unit at Pondicherry. The company will source its raw materials from group companies -- the copper from Finolex Essex at Ponda, Goa, and PVC from Finolex Industries at Ratnagiri.