Supreme Petrochem board approves phase II expansion of EPS plant; Stock soars 3.5%

11 Mar 2022 , 11:43 AM

Supreme Petrochem Ltd has informed that the Board of directors in its meeting held on Thursday has approved Phase II expansion of its Expandable Polystyrene (EPS) plant at Nagothane, Maharashtra by 30,000 MTA.

The Board has also approved setting of second line of Extruded Polystyrene Board (XPS) with capacity of 1,00,000M³ and increasing the Masterbatch and Compounds capacity by 50,000 MTA.

Further, the capital cost for these capital expenditure schemes shall be met from Company’s internal accruals, said company in a regulatory filing.

At around 11:46 AM, Supreme Petrochem was trading at Rs747.45 apiece up by Rs25.8 or 3.58% from its previous closing of Rs721.65 apiece on the BSE.