Opto Circuits India (OCIL) is planning to develop a single-product special economic zone (SEZ) at Hassan at an investment of close to Rs 1.50 billion, reports Business Standard.
The company has already acquired 250 acres at the industrial growth centre in Hassan from Karnataka Industrial Area Development Board (KIADB) at a cost of Rs 400 million.
The company intends to set up a greenfield manufacturing facility to produce new range of products.
An investment of Rs 500 million each is required on the construction of the new plant and machinery.
Shares of the company closed up Rs 2.4, or 1.5%, at Rs 162.70. The total volume of shares traded at the BSE was 215,733 (Tuesday).
Source : www.myiris.com