Varmora Granito Starts $48 Million Manufacturing Plants in Morbi; Set to Launch Asia's First IST This Year
India: Varmora Granito Pvt Ltd. has completed a significant expansion at Morbi with an investment of over 48 million USD in two high-tech manufacturing plants, which have a combined capacity of 17 million square meters annually. This expansion marks the introduction of Integrated Stone Technology (IST) for the first time in Asia, enabling the production of stone-like tiles that are costlier than regular tiles but cheaper than actual stone.
This innovative technology, supplied exclusively to Varmora for two years, will help create surface products like Brazilian stone, currently imported from abroad. The IST production using Italian machines has begun, with a formal launch scheduled for October 19 in the presence of over 200 dealers.
The expansion has also created over 600 new jobs. While Varmora exports to over 100 countries and plans to expand to 125, the company’s focus remains on the domestic market, which accounts for 80% of its sales. Varmora anticipates healthy double-digit growth in the next 2-3 years, driven by strong demand from both domestic and export markets.
Addressing the ongoing logistical challenges impacting the ceramic tile industry in Morbi, Varmora acknowledged the temporary nature of shipping issues, which he expects to resolve in the coming months. Despite these challenges, demand for ceramic surface products remains strong.
Source: Desh Gujarat
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