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Kothari Petrochemicals spurts 5.5% after increasing investment in Debottlenecking Project to Rs28.75cr

The company’s board after reviewing of the project in Manali has approved the enhancement of an additional cost by Rs5cr.

November 09, 2021 12:14 IST | India Infoline News Service
Kothari Petrochemicals Limited updated the exchanges Monday that the Board of Directors of Kothari Petrochemicals Limited at its meeting held on November 08, 2021, has reviewed the progress of the Debottlenecking (DBN) Project and taking into consideration of detailed engineering studies and equipments cost, Board has approved the enhancement of an additional cost by Rs5cr thereby the overall investment would be Rs28.75cr plus applicable taxes.

The Board in February had given consent to implement the DBN to increase the PIB Production Capacity from 24,000 to 36,000 TPA at Manali Unit subject to the approval of Pollution Control Board with an estimated investment of Rs23.75cr plus applicable taxes.

At around 12.18 pm, Kothari Petrochemicals Ltd was trading at Rs53.25 per piece up by Rs2.8 or 5.55% from its previous closing of Rs50.45 per piece on the NSE.

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