SRF to setup new facility at Dahej for Rs250 crore; Stock climbs near 1%

25 Jul 2022 , 09:17 AM

SRF Limited has announced to the exchanges regarding capital expenditure proposal approved by the Board.

As per the filing, the Board of Directors at its meeting held on July 21, 2022 has approved project to setup a new and dedicated facility at Dahej, Gujarat to produce advanced intermediates for Agrochemicals at a cost of Rs250 crore.

Further, the proposed capacity addition is 1000 MTPA and to be commissioned by May 31, 2023, company informed in a filing.

The mode of financing will be mix of debt and internal accruals where the expansion plan is to create the demand of the customers easily, the company added.

At around 9:17 AM, SRF was trading at Rs2,309.75 per share up by Rs19.30 or 0.84% from its previous closing of Rs2,290.45 per share on the BSE.