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Rama Phosphates acquires land for new project in Maharashtra; Stock gains over 2%

The Company is at advanced stage of finalizing the Plant and Machinery and consequently is targeting to commence the production by the end of FY 2023.

February 18, 2022 12:04 IST | India Infoline News Service
Stock Market Trader, Stock Trader, Trading
Rama Phosphates Ltd has acquired land admeasuring 210377 Sq. Mts. (51.98 Acre) from Maharashtra Industrial Development Corporation (MIDC), Nardana Industrial Area, Dhule District which is bordered by Madhya Pradesh and Gujarat State and the Capital investment for the entire project would be in Phase manner, said  company on Thursday.

Further, to this connection the Company has obtained consent to establish Phase I from Maharashtra Pollution Control Board to manufacture Single Super Phosphate (SSP) including Fortified Zincated & Boranated fertilizer with Capacity of 216000 MTPA & Sulphuric Acid Plant with Capacity of 90000 MTPA and the Capital Investment of the Phase I project is Rs48.954 crore.

The Company is at advanced stage of finalizing the Plant and Machinery and consequently Company is targeting to commence the production by the end of FY 2023, it further added.

On Friday at around 12:05 PM, Rama Phosphates was trading at Rs359.25 apiece up by Rs7.6 or 2.16% on Sensex.

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