Denmark-based Rockwool, one of the leading insulation producers across various segments, will be setting up its largest factory in the country in Tamil Nadu with an outlay of Rs 550 crore, a top official said on Thursday.
Rockwool reported revenues of Euro 3.6 billion and has a presence in 40 countries worldwide.
The new factory expected to come up at Cheyyar, located about 90 km from Chennai in Tiruvannamalai district, is in addition to the company's existing factory in Dahej, Gujarat and would boost revenues from the Indian market in the Group's global turnover.
Earlier in the day, Rockwool Board Chairman Thomas Kahler, its Asia Managing Director Darryl Mathews and India Business Unit Director Vinay Pratap Singh met Chief Secretary N Muruganandham at the secretariat to discuss the company's plans in the state.
"We started our operations in Gujarat in 2011 and we are setting up our second factory in Cheyyar SIPCOT (State Industries Promotion Corporation of Tamil Nadu) Industrial P
