“This will be our first investment out of India and we would like to invest in Malaysia as it is strategically located for us to source the raw materials,” Sadguru Polymers Managing Director Harinath P. said.
“We are looking at Johor for now, but we are keeping our options open as Port Klang is an equally attractive location.
“We want to be close to the port as it is easier for transportation of raw materials,” he told the Malaysian media here today.
The PVC resin, a raw material for the manufacture of pipes and fittings, will be exported to India and other countries, he said.
Phase II of the firm’s expansion will be a metallurgical manufacturing plant, he said, adding that the PVC resin plant is the first focus area.
“If everything works out well, we foresee the plant being established before year-end,” he said after a business meeting with Minister of International Trade and Industry Datuk Seri Mustapa Mohamed, who is here on a three-day trade and investment mission to India.
Also present were Malaysian High Commissioner Datuk Naimun Ashakali Mohammad and officials from the Malaysian Investment Development Authority and Malaysian External Trade Development Corporation.
Sadguru Polymers Pvt Ltd & Triace Solutions are part of a closely knit family enterprise begun in 1993 in Hyderabad, Telangana.
Over the last 20 years, the company has transformed into a business house with interests in pipe manufacturing, agriculture, logistics and warehousing and construction.
The group’s turnover in the last financial year was more than US$35 million.