Gokul Agro Resources to set up new refinery unit at Krishnapatnam, Andhra Pradesh; Stock gains 3.6%

3 Feb 2022 , 11:30 AM

Gokul Agro Resources Ltd has informed that the Board of Directors of the Company at its meeting held on Wednesday has considered, expansion the Company by setting up of a Refinery Unit at Krishnapatnam, Andhra Pradesh.

As per regulatory filing, the details of the proposed refinery are as follows:

Land acquired – Rs5cr

Proposed Investment – Plant & Machinery – Rs.1,75,00,00,000/- and Building – Rs. 25,00,00,000/-

Proposed Capacity Utilization – 1400 TPD

Expected Date of Commencement of Operations (Tentative) – 01-12-2022

The main objective of the expansion is to cater future growth of the business, said Company on Wednesday.

At around 11:31 AM, Gokul Agro Resources was trading at Rs79.10 per piece higher  by 3.6% on Sensex.