Gold Plus Glass Industry Limited has commenced operations at its newly built manufacturing facility in Karnataka, significantly increasing its production capabilities. The facility achieved its Commercial Operations Date (COD) in June 2024 and represents a ₹2,500 crore investment.
The plant has a float glass manufacturing capacity of 584,000 metric tons per annum and a solar glass capacity of 109,500 metric tons per annum. This addition brings the company’s total float glass capacity across its facilities in Karnataka and Roorkee to 1,040,250 metric tons annually.
Gold Plus, which held a 22% share of India’s float glass manufacturing capacity as of September 2023, is projected to increase its market share to 26.1% following this expansion, as per a CRISIL report.
The venture into solar glass manufacturing aligns with the rising domestic demand for high-quality solar glass. The industry has benefited from protective tariffs on imports, fostering local production. Gold Plus’s Karnataka facility is expected to contribute to the growing needs of industries, including renewable energy and real estate.
Jimmy Tyagi, CEO of Gold Plus Glass Industry Limited, commented, “The commissioning of our Karnataka facility marks a significant milestone in Gold Plus journey. It reflects our unwavering commitment to innovation, sustainability, and customer-centric growth. We are proud to play a pivotal role in meeting India’s growing demand for high-quality float and solar glass, contributing to the country’s economic and environmental aspirations.”
The expansion highlights the company’s focus on enhancing capacity and diversifying its product offerings to cater to both traditional and emerging market segments.