I G Petrochemicals Limited approves brownfield expansion project

The Board of Directors of I G Petrochemicals Limited at their meeting held on November 1, 2021 have approved the expansion of Phthalic Anhydride with a capacity of 53,000 MTPA at our existing plant location, Taloja (brownfield expansion) at an outlay of approx. Rs. 345 crores.

The demand for Phthalic Anhydride in domestic market is expected to increase due to Govt. focus on Infrastructure spending and demand growth in downstream products like Paints, Plasticizers¸ Polyvinyl chloride, Unsaturated polyester resins (UPR) etc., led by good GDP growth in India.

The funding will be done through ECB / Term Loans and Internal Accruals.

Shares of IG Petrochemicals Limited was last trading in BSE at Rs. 806.10 as compared to the previous close of Rs. 807.20. The total number of shares traded during the day was 2236 in over 273 trades.

The stock hit an intraday high of Rs. 815.55 and intraday low of 799.45. The net turnover during the day was Rs. 1808841.00.

Source : Equity Bulls

Keywords

IGPetrochemicalsLimited INE204A01010 IGPL BrownfieldExpansionProject Taloja PhthalicAnhydride