Kolkata, Sep 12 (IANS) Godrej and Boyce Mfg. Co. Ltd. has earmarked around Rs.4.5 billion investment by 2007 to fund manufacturing tie-ups and acquisitions in the US and Britain.

The company is also scouting for locations in West Bengal and Tamil Nadu to set up manufacturing facilities at a cost of Rs.420 million to serve the eastern and southern markets, CEO Anil S. Mathur said, while unveiling Godrej Interio - a furniture solution for homes, offices and special projects.

"We have initiated talks with two companies in the US and Britain for manufacturing tie-ups. We are in look out for brand and plant acquisitions in both the countries by the end of the current fiscal," Mathur said.

The manufacturing tie-ups would cost the company about Rs.800 million while the acquisitions would cost around Rs.1-Rs.1.5 billion per unit, he said.

Godrej currently has export contracts worth $3 million, which is expected to go up to $5 million next year.