While Sandur Laminates is looking at huge funds, Sandur Microcircuits plans to enter into technical alliances in order to tap new markets, according to senior officials in Sandur Manganese & Iron Ores Ltd.

It is learnt that the group was planning to appoint an agency to look into the market conditions and find partners for both these companies. Going by the current economic conditions, the group may even settle for a minority equity stake in both the ventures.

Though discussions with a few domestic firms were on for offering a part of the promoter's stake, the company is yet to finalise the equity structure and investments. ``We are expecting to finalise a deal shortly,'' a top Sandur Manganese official told The Financial Express.

Sandur Microcircuits, which produces resistor network products at its unit near Bellary in Karnataka for the telecom and electronic industry, has just completed a Rs 10 crore project. The company is planning to diversify into new areas and markets.

On the other hand the Rs 80 crore project of Sandur Laminates is also languishing for want of working capital. The company currently exports its products to Singapore and other East Asian countries.

The Sandur-based Sandur Manganese & Iron Ores group is facing tough times and the group was in the process of restructuring its entire business ventures by diversifying into new areas and hiving off some existing units into joint venture subsidiaries, according to sources.