Cords Cable Industries has received, a prestigious export order amounting to USD 1,226 million (approximately INR 65 million) from its newly added worldwide reputed customer, M/s Arcelor Mittal, for supply-of LT Power Cables at Saudi Arabia.
Cords Cable Industries Ltd. said Credit Analysis & Research Ltd. or CARE had reaffirmed ‘CARE BBB+’ (CARE Triple B Plus) rating to the Long Term Bank Facilities and ‘CARE A3+’ (A Three Plus) rating to the Short Term Bank facilities of the company.
Continue reading Cords Cable Gets Reaffirmation of Rating from CARE
Cords new Kaharani manufacturing unit (Rajasthan, India) has received ISO 9001:2008 Certification from TUV Rheinland.
Cords Cable has recently received approval for its LV Power Cables from Nuclear Power Corporation of India Ltd. (NPCIL). NPCIL is the nodal Indian govt. agency responsible for setting up Nuclear Power projects in India.
Contrary to the recent article published in a business magazine, Cords Cable Industries Limited shall hereby like to reiterate its earlier announcement of the successful commissioning of its new ultra-modern cable manufacturing facility at Kaharani, Rajasthan. The company had earlier planned for setting up this facility at Pathredi, Rajasthan, however, due to the opposition from the surrounding village establishments, the company had to swap this project site with a much larger and a more suitable project site at Kaharani, Rajasthan.
The on-going steep hikes in the monetary policy rates are subsequently causing further increase in the interest costs of almost all industries. Cords Cable Industries, on its part, is aggressively taking all necessary initiatives in order to minimize the impact of these interest rate hikes with an ultimate aim of value maximization for its investors.
Cords Cable Industries Ltd. has commenced production from it’s new state-of-the-art manufacturing unit at Kahrani, Rajasthan, India. The new unit shall manufacture Control, Instrumentation and Special cables such as Fieldbus, Solar PV, EPR etc. The Kahrani unit is expected to add about $ 55-60 million to the top-line of Cords during FY 2011-12.