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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Amway India's first plant to be ready by 2015: CEO

Saturday - Nov 17, 2012, 11:52am (GMT+5.5)
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Kolkata - Direct selling FMCG company Amway India Friday said that its first manufacturing plant, to be built at a cost of Rs.550 crore, would be ready in Tamil Nadu by early 2015.

"The new manufacturing facility in Tamil Nadu should be ready by early 2015," Amway India managing director and chief executive William S. Pinckney said here.

Pinckney said the company has already signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for the new plant, which would produce healthcare, nutritional and beauty products.

He, however, declined to disclose the location of the upcoming facility.

Pinckney said the company was also planning to set up a research and development (R&D) centre in India in the next few years.

For the R&D centre, the firm has earmarked 20,000 sq ft of land and would employ 25 research scholars.


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