HNG Group Fires Up Its First Float Furnace In Gujarat

Date: 24 December 2009
Source: Indiainfoline.com

Date: 24 December 2009

For further upscaling, the plant has provision for a second float line which can support an additional 850 tonnes per day.  With an aim to further strengthen its leadership position in the glass industry, the Rs15bn.

HNG Group, the market leader in container glass industry has entered the float glass segment with the firing up of its first float furnace in Halol, Gujarat. Starting up with a production capacity of 600 tonnes per day, HNG Group has aggressive plans for this new business. HNG Float Glass Ltd. aims to capture upto 25% market share in the next two years. For further upscaling, the plant has provision for a second float line which can support an additional 850 tonnes per day.
 
Signed at the Vibrant Gujarat meet in 2007, the plant has been completed in a record time of 22 months. The plant has been financed by its parent company HNGIL, International Finance Corp., a subsidiary of the World Bank and DEG, Germany with a debt equity ratio of 60:40.
 
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