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Kiri Dyes to capitalize on Indonesian & Vietnamese markets

19
May '08
Kiri Dyes and Chemicals, an Ahmedabad-based reactive dyes and intermediates' manufacturer based in India and foreign grounds such as Korea, Turkey, Taiwan, Bangladesh, US and Canada, now have two more destinations on their agenda.

Mr Manish Kiri, Managing Director of Kiri Dyes, told Fibre2fashion, “We are presently looking into the possibilities of venturing for markets in Vietnam and Indonesia where, demand and export potential as also business opportunities are reported to be very high”.

The company aims to garner Rs200-500 million from exports in these two countries; however, it is still being cautious in its move and is conducting a detailed study of the markets which is expected to get completed by the end of this year.

Mr Manish also divulged that the venture in Vietnam and Indonesia is anticipated to bring about an increase of 5-7 percent in its profits from the total sales.

In the meanwhile, the company has identified and purchased a sight near Padra in Vadodra district of Gujarat for setting up a plant as part of its joint-venture plan with China-based Zhejlang Longsheng Group Company.

In the first year, the plant will have a production capacity of 10,000 metric tons per annum (MTPA) which will be later on expanded to 15,000 MTPA over a period of three years. Mr Kiri said, “Investment for this year is pegged at Rs580 millions while the entire project may involve as much as Rs1000 millions.”

Presently, the company is exporting products to over 30 countries and has recently completed the expansion process of its dyestuff capacity which is raised to 15,000 MPTA.

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