The company has received an approval for investment for setting up of copper products manufacturing unit with a capacity of 60,000 MT in Abu Dhabi, UAE.
June 2, 2016
around 60,000 MT of copper products.
Shilpi Cable Technologies have received the approval from the board of directors to set up a manufacturing unit in Abu Dhabi, UAE. The unit will invite huge investment of $150 million and will have production capacity of around 60,000 MT of copper products. The company will invest $100 million through debt and $50 million through equity.
In addition, the board has approved acquisition of 100 percent share of Shilpi Worldwide PTE Ltd, Singapore which is presently a step down wholly owned subsidiary of the company. The proposed transaction is subject to the requisite statutory approvals.
