MYK Laticrete lines up Rs. 400cr for 3 greenfield projects

Hyderabad: City-based MYK Laticrete India Pvt Ltd, a construction solution provider on Wednesday said it will be investing around Rs 400 crore on three green field projects to be set up at Indore, Gujarat and West Bengal. Moreover, the company is in the process of doubling its Chennai plants manufacturing capacity. MYK Laticrete, with eyes on wider penetration in the Indian market, has signed Indian cricketer MS Dhoni as their National Brand Ambassador.

MYK Laticrete, a joint venture between Laticrete International, USA and the MYK Group, India has major presence in Hyderabad with its research and development centre along with the training centre and one of its five units at Rudaram in Telangana. Their manufacturing plant in this State holds the capacity to produce 14,000 tonnes of its major products, each month.

Speaking about the company's plan, Murali Yadama, Managing Director said that MYK Laticrete is looking at converting sand and cement users in the building construction sector into users of their products. "Our aim is to create awareness about the products we have, for which MS Dhoni has been roped in as the face of MYK Laticrete. At present, we are the leaders in our segment with 38 per cent of market share. To uphold our position we are doubling the manufacturing capacity of our unit in Chennai. Also, we are coming up with three new greenfield projects, over next 12 months, at an investment of Rs 300- 400 crore, raised through internal accruals," Yadama stated.

Besides the new projects coming up at Indore, Gujarat and West Bengal, MYK Laticrete has a total of five factories at Tamil Nadu, Gujarat, two in Rajasthan, and its mother plant in Telangana.