The first plant - to be constructed in Hanoi - will be for the manufacture of plastic containers for beverage products, Sanan Angubolkul, chairman and president of the listed company, said yesterday.

The facility will cost between Bt250 million and Bt300 million and be located on a plot of more than 10 rai (1.6 hectares). Production is scheduled to commence at the end of next year.

The second factory will be for the production of melamine ware in Ho Chi Minh City.

For this facility, the company will find a new location to eventually replace its existing factory in the Vietnamese capital, as it is currently limited by the relatively small capacity of the plant, he said.

The new factory will require an outlay of about Bt200 million, with construction expected to be completed by the end of 2016.

"The new melamine factory in Ho Chi Minh City will have three times the manufacturing capacity of the existing one, which will continue to be run until the leasing contract expires in four years' time," he added.

Sanan said that about Bt50 million of the Bt1-billion investment budget would be allocated for the installation of 30 new machines at Srithai Superware's factory in India, while Bt450 million would be spent on the upgrade of its machinery and moulding facilities in Thailand.

Meanwhile, the company has slashed its overall sales target for this year from Bt15 billion to about Bt14 billion, due to the slowdown of the domestic economy. However, the revision will not affect the company's net profit, he stressed, adding that gross earnings this year and next will be similar - at 19-20 per cent of revenue.

"In 2015, we target 12-per-cent growth, driven positively by an increase in domestic and overseas sales. The contribution ratio between domestic and foreign sales is now 74:26.This includes the new plastic injection factory in India, which will complete construction next year and realise revenue at the end of 2015," said Sanan.

The company is also looking for a financial adviser to handle the listing of its subsidiary, Srithai Superware Vietnam, on the Stock Exchange of Thailand.

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Srithai Superware raises investment budget to Bt1 bn, budgets Bt500m for 2 plants in Vietnam