Based on our earlier disclosure dated 23^rd December 2014,  the Board of Directors reviewed the feasibility study on the capacity expansion and has approved the  Capacity Expansion  of approx.  7.6 million sq mtrs per annum in two phases which would increase the  existing production capacity at the existing factory at Sohar by 120% . The work on the first phase of capacity expansion of approx. 3.8 million sq. mtrs would commence immediately while the work on the second phase is planned after the expansion of the first phase is successful. The Board envisages that the proposed capacity enhancement will lead to future growth in revenues and profitability of the company.

Arvind Bindra

CEO