Finolex Industries mulls foraying tank terminalling

Pune: PVC resin and pipe manufacturer Finolex Industries Ltd is proposing to foray into tank terminalling at Ratnagiri and hopes to add revenues of Rs 100 crore via the new line of business. To prepare for this, a breakwater is being constructed at the company''s existing jetty at Ratnagiri to make it an all weather port, and the Rs 160-crore project that is being undertaken by Afcons is hoped to be finished in a year. The company uses the jetty to sell raw materials and coal for its captive power plant at Ratnagiri in addition to LPG for BPCL, a business that adds Rs 15 crore to its revenues. Currently the PVC resin business accounts for around Rs 900 crore of the Finolex Industries top-line while the pipes business adds around 500 crore to it.