Supreme Petrochem stock rallies over 3% on update of expansion project

24 Jan 2022 , 11:07 AM

Supreme Petrochem Ltd  stocks rally on Monday after the company has undertaken Project for manufacture of Mass Acrylonitrile Butadiene Styrene (mABS) at Village Amdoshi-Wangani, District-Raigad, Maharashtra (India), with two Lines of 70 KTA each aggregating 140 KTA.

As per regulatory filing, Line I is scheduled to go on stream by June 2024 and Line II is planned for completion by March 2025.

The Company has already entered into an agreement for License and Basic Engineering Design for Line I of 70 KTA with Vesralis-Eni Chemicals Group. The total project cost for both Lines shall be funded from the Company’s own funds, the company said.

At around 11:06 AM, Supreme Petrochem was trading higher by 3.34% at Rs724.40 per piece despite bearish markets tone on Sensex.