Electrosteel Castings Ltd, which has positioned itself as an international manufacturer of ductile iron (Dl) pipes and fittings, has chalked out plans to give a special thrust to exports in 2005-06 through the newly-created special purpose vehicles (SPVs) in Singapore, and the UK.
Company sources said that JVs with Singardo International Pvt Ltd, Singapore and Chesterfield Ductile Group Ltd, UK have been formed, to create more space for Dl pipes, and to create that much-needed India brand equity. These ventures will function as exclusive distribution arms of Electrosteel in the European Dl pipes market segment.
The companys exports during 2004-05 showed a growth of 45 per cent over the performance in the previous financial year. The company plans to expand the Dl pipe production capacity, from the present 2-lakh tonne to 2.5 lakh tonne per annum. The capacity expansion project is expected to complete by the middle of 2006.