Gold Plus Glass Industry Limited, the country’s second-largest (1250 tonnes perday) float glass manufacturing company, already started working on the India’s largest float glass project to meet the demand for indigenous float glass. The Project is coming up in a massive land of approx. 200 acres in Kangala Industrial Area, Belagavi.
The new greenfield project will consist of 2 float lines of 800 tonnes per day capacity each and a solar glass line of 300 tonnes per day capacity.
Amongst the above heavy float glass lines, the float glass line with 800 tonnes per day capacity is likely to commence production from 1ST quarter of the calendar year 2023.
With a gap of 6 months each, the other two lines with production of 300 tonnes of solar glass and 800 tonnes of float glass per day will also commence.
The above float glass projects of the company would to a certain extent be helpful in meeting the increasing demand for float glass in the country. Also one of the float lines will be the first in India that is designed to produce 15 and 19 mm thick glass. Two float lines at the same location are planned to provide complete product mix of clear and tinted glass variants to the customers.
The company has also planned to set up a solar glass plant keeping in view the environment as solar glass is used to generate electricity in photo voltaic panels.
“With the support of the Karnataka government through incentives and fast track approvals, large employment generation in a developing industrial belt of Belgaum is enabled. The plant for solar glass will give further impetus to the initiatives being taken by the government in the solar industry,” Rajesh Ramaiah, Partner at Premji Invest, said.
Kotak Special Situations Fund (KSSF), managed by Kotak Investment Advisors, on Tuesday announced an investment of up to Rs 450 crore in Gold Plus Glass Industry Ltd. Gold Plus.