Ramesh Corp. and Kajaria Ceramics Ltd. Signs Equal Joint venture to set up the largest tiles manufacturing plant in Nepal
Investment of Nepalese rupees 400 Crores (INR 250 Crores) to set up the plant in the region.
Kajaria Ceramics Ltd, India’s No. 1 tile company and 7th largest in the world, and Ramesh Corp. a leading conglomerate and business group of Nepal announce greenfield project for manufacturing tiles in Nawalparasi, Nepal, in an equal joint venture. As per the agreement, the companies will set up the largest tiles manufacturing plant with an annual capacity of 8 million Sq meters. The signing ceremony was held in Kathmandu in the presence of distinguished guests from both groups.
Mr. Pratik Jalan, Executive Director, Ramesh Corp, and Mr. Ashok Kajaria Chairman/Managing Director, Kajaria Ceramics Ltd signed 50:50 Joint Venture agreements. The agreement was on behalf of the respective company to set up a state-of-the-art manufacturing plant in Nepal. The plant meant for manufacturing Ceramic and Vitrified tiles will have a production capacity of Eight million Sq meters and is expected to begin operation by the end of 2023. The new plant will cater to the demand of Nepalese markets with a vision to be export ready in the future. Moreover, the key raw materials available in Nepal shall be used in manufacturing the tiles.
Regarding the new facility, Mr. Ashok Kajaria said “Nepal has always been an important market for us. We have been present here for more than two decades and this step will further strengthen our presence in Nepal market. This project is expected to launch immediately, with the plant being commissioned by the end of 2023. We want our world-class products to be available in Nepal at a very competitive price.
We are sure that this facility will become iconic in Nepal’s tile industry for using state-of-the-art technology, setting standards for quality, efficiency, safety, and environmental awareness.”
Mr. Pratik Jalan Said “This will be a landmark project in Nepal with substantial value addition along with employment generation in the country. The Plant will be a world-class manufacturing plant for Tiles and Products will be available at a very competitive price.”
Mr. Rohit Gupta, Vice-Chairman, Ramesh Corp Further added “Ramesh Corp is committed to the Government of Nepal’s vision of Industrializing Nepal. We have made substantial investments, and we will continue to make more investments in the country. This Joint Venture will enable more similar opportunities in Nepal in the near future.”
About Kajaria Ceramics:
Kajaria Ceramics (KCL) is the largest manufacturer of ceramic/vitrified tiles in India. It is 7th largest plant in the world. It has 8 (Eight) plant in India which spread across Sikandrabad in Uttar Pradesh, Gailpur & Malootana in Rajastham, Vijayawada & Srikalahasti in Andhra Pradesh, Balanagar in Telangana and also it has two plants in Gujarat. The plants have annual capacity of 84 million square meters (MSM) Kajaria was founded 34 years ago and has since then grown stronger with its hard work, innovations, and patronage from their discerning customers. Kajaria offers more than 3000 designs and options in ceramic wall & floor tiles along with vitrified tiles, designer tiles, and much more. Kajaria has been a pioneer in giving worldclass premium tiles to its discerning customers and Asia's Most Promising Brands award surely reassures that fact.
About Ramesh Corp
Founded more than 50 years ago, Ramesh Corp is a diversified, and one of the biggest private industrial and trading conglomerates in Nepal bound by a common purpose of moving forward together. From its early foray into importing and trading to staying abreast of the latest technologies with its diversified presence in telecommunication and information technology, Ramesh Corp. has a strong presence across a wide array of industries including manufacturing, financial services, real estate, consumer durables, hydropower, mining, and investment. The company has embedded the core philosophy of “forward together” into all its business practices and aspires to empower and enrich the lives of its customers, employees, investors, ecosystem partners as well as the entire nation