The project also involves the installation of the captive power plant of the total capacity of 10 MWh. The estimated project cost is Rs400cr, the company said in the filing.
The company has received the Environmental clearance for the same from the Ministry of Environment, Forests & Climate Change, Government of India.
Balaji Amines Ltd is currently trading at Rs372, up by Rs22 or 6.29% from its previous closing of Rs350 on the BSE.
The scrip opened at Rs365.50 and has touched a high and low of Rs379 and Rs365.50 respectively.