Kanoria Chemicals & Industries recently sold the chloro-chemicals division of the company for about Rs 830 crore. R V Kanoria, chairman and managing director of Kanoria Chemicals joins CNBC-TV18 to highlight the path ahead for his company.
He says that the company is planning to enter the fine chemicals business next apart from the three to five megawatt solar power project in Rajasthan. Below is the edited transcript of the interview. Also watch the accompanying video. Q: Ever since you sold your business and you got that cash of close to about Rs 830 odd crore, questions have been raised, what you are planning to do. The latest is that you are planning to venture in the fine chemicals business, any concrete plan with respect to this and if yes, could you elaborate that for us?
A: We do have plans to get into fine chemicals. We are already in touch with investment bankers to look at acquisition opportunities, and our focus in fine chemicals will be to actually grow more through the acquisition route so that we can buy in technology rather than try to learn the technology all a fresh. Other than that, we are also getting into renewable energy, into solar power. We expect that our first generation of solar power in Rajasthan would be completed by 31st March of 2012, that is within this financial year. This will be about 3-5 megawatts. Q: How much are you planning to invest for this acquisition and when might you conclude this deal in the fine chemical space?
A: There are several options and valuations
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