Diligent Industries completes green field vegetable oil plant; Stock ends 5% higher

30 Mar 2022 , 03:53 PM

Diligent Industries Limited, a key player in the business of solvent extraction with the capacity of 250 TPD, have just completed the implementation of a green field Multiple Refinery-Vegetable Oil Plant in its existing premises in the surplus land available, adjacent to the solvent extraction plant.

Further, the cost of this greenfield project is Rs15 crore out-of which Rs11 crore has already been spent and the balance will be infused in a phased manner in the ensuing financial year i.e., 2022-23. This green field project is funded out of unsecured loans from the promoters and internal accruals, said company.

It further added that all the approvals for commencing the production have already been obtained and commercial production is expected to commence soon. In Phase 1: Refined Bleached Deodorised palm olein process will be commissioned and this has the capacity of 120 ton per day (TPD).

Initially, the company can process the following products:

1. Palm Oil
2. Super Olein
3. Soft Stearin

Digilent Industries ended at Rs81.25 per piece higher by 4.97% on Sensex.