Power equipment manufacturer Diamond Cables is setting up a green-field project to manufacture transmission towers at Haripura village near Vadodara.
The facility will have a capacity of 48,000 MT at an estimated cost of Rs 32 crore.
The company has already acquired the land for the plant and the project will go on stream before March 2009.
The company is also expanding the project to manufacture LT aerial bunched cables and LT power cables for 25,000 kms at Vadadala village in Gujarat at an estimated cost of Rs 38 crore.
The expansion project will start in June 2008. On completion of the project, the company will become the third largest power cable manufacturer in the country.
The company posted a net profit of Rs 13 crore against the topline of Rs 126 crore for the quarter ending December 31, 2007.
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