The Mumbai-based Naveen Luthra promoted Luthra Water Systems Ltd is investing Rs 30-35 crore in a state-of-the-art, space age plant primarily targeted for the European Market.
This will be the third plant to go into operation bottling Mulshi Springs natural spring water. Construction of the plant will start by this month-end and the plant is expected to be ready in a few months, a company statement said here.
“The company will fund these expansion plans from their own sources, “Mulshi Springs promoter Naveen Luthra said. Production of Mulshi Springs natural spring water in PET bottles will start commercially in the next financial year and the company expects to start commercial export of the water to the EU and France by the end of 2012.
The new plant will add an additional capacity of 1.5 lakh bottles per day. Currently the two plants in operation are able to bottle about two lakh bottles per day at the maximum. After the new plant is operational the total bottling capacity of Luthra Water Systems will be about 400,000 bottles per day, the release said.
The company which is privately held has a current annual turnover of Rs 20 crore and the plants are located at Taluka Mulshi at Ahirwadi Village near Lonavla in the Sahayadri Mountains. The spring water reservoir capacity of Mulshi is about four million litres per day and is expected to last over 200 years.
Two years from now the company expects to reach a turnover of about Rs 60-75 crore, Luthra said.
SOURCE: Press Trust Of India | Published: Mumbai January 17, 2012