Chennai,  Ceramic and vitrified tiles major, Kajaria Ceramics Ltd has decided to foray into Nepal with a manufacturing plant in joint venture with a local partner.

The Board of Rs 3,299 crore company on Monday gave its nod to invest Rs 125 crore (50 per cent of the project cost) in a company to be incorporated in Nepal.

The investment will be by way of equity and/or loan, for establishing a manufacturing facility in Nepal partnering with various individuals affiliated with Ramesh Corp, Nepal.

According to Kajaria Ceramics, the proposed plant in Nepal will have an annual capacity of 8 million square metre (MSM).