ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Jaswal Granites

Economic and Political Weekly April 11-18, 1992 737 IN THE CAPITAL MARKET Jaswal Granites JASWAL GRANITES is implementing a Rs 9.11 crore (Rs 6,16 crore Phase I completed and Rs 2.95 crore Phase II proposed), 100 per cent EOU for manufacture of polished slabs/monuments of granite stone in Medak district of Andhra Pradesh. The project involves a total transfer of international granite extraction and processing technology from B Barsanti and Co SAS, Zambon SNC and Quarries SA of Italy and Thibaut SA of France. With an installed capacity of 4,73,000 sq ft per annum, the project will extract, process and export high quality black granite as well as several popular-coloured granites that are abundantly available in south India. The company has acquired three quarries at Adoni in Kurnool district for mining red/multi-colour granite and near Jaggayapet in Krishna district for black granite and will be acquiring black granite quarries in Khammam in Andhra Pradesh and quarries in Tamil Nadu and Karnataka for other popular colours. Jaswal Granites has entered into long- term marketing tie-ups for 100 per cent of production with DHC Corporation, Japan, Olympia Marmi SPA, Italy, Ticinia Graniti SRL, Singapore and Gillet SA, Belgium. A K Jaswal, managing director of the company, is a mechanical engineer with many years of experience in the light engineering industry. The company has completed implementation of the first phase of the project at a cost of Rs 6.16 crore Commercial production has commenced and exports have started during the last three months. The company has now taken up the second phase of the project for purchase and implementation of indigenous quarrying equipment to mechanise the quarries, for acquisition of granite-rich land on freehold to develop for mining and for meeting additional working capital requirement. The company will be entering the capital market by end of April with a public issue of Rs 2.36 crore to part fiance the second phase of the project.

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