Pondy Oxides and Chemicals to set up aluminum recycling facility in Tamil Nadu

14 Oct 2022 , 10:15 AM

Pondy Oxides and Chemicals Limited has informed that the company intends to set up an Aluminum Recycling / Melting Facility at its existing premises located in Sriperumbudur, Tamil Nadu as part of the Expansion Strategy for 2022 at an estimated total investment on plant and machinery and pollution equipment’s of Rs5.00 crore.

“With a view to enhance the portfolio of other non-ferrous metals apart from Lead and Copper, the company has recognized an opportunity to recycle Aluminum”, the company said.

It further added, that in this regard the Company has obtained Consent for Establishment from Tamil Nadu Pollution Control Board to manufacture Aluminum and Aluminum Alloys (Ingots/pellets/molten) – 14,750 MT/annum.

Consequently, the company is in the process for implementing all the relevant state of the art machinery, and targeted to have it installed and commissioned for production around December 2022. This would also help the Company to meet the demand(s) and consolidate its position in the market.

The company continuously endeavors to emphasize on the importance of recycling and to support and focus on environmental sustainability.

At around 10:16 AM, Pondy Oxides & Chemicals Ltd is currently trading at Rs500 per share up by Rs3.6 or 0.73% from its previous closing of Rs496.40 per share on the BSE.

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