Gulshan Polyols signs long term offtake agreement with OMCs in Madhya Pradesh

Gulshan Polyols Limited has received signed and executed a Long Term Offtake Agreement, today on January 8, 2022 for setting up of upcoming Standalone dedicated ethanol plant of 500 KLPD at M P A K V N Industrial Area, Borgaon, Tehsil Sausar, Distt. Chhindwara, Madhya Pradesh in ethanol deficit states for supply of Indigenous Denatured Anhydrous Ethanol to Oil Marketing Companies (OMCs) under Ethanol Blending Petroleum Program to meet ethanol requirements for 20% blending by year 2025 by using corn / maize and rice combination.

The Longterm Offtake Agreement with OMCs effective from January 15, 2022 and valid for 10 years, offered jointly by and brief executed with i.e IOCL, BPCL & HPCL for an annual off take quantity of 8.91 Crores Litres per annum of Ethanol.

Shares of Gulshan Polyols Limited was last trading in BSE at Rs. 315.50 as compared to the previous close of Rs. 313.75. The total number of shares traded during the day was 30092 in over 1089 trades.

The stock hit an intraday high of Rs. 323.50 and intraday low of 310.25. The net turnover during the day was Rs. 9510815.00.

Source : Equity Bulls

Keywords

GulshanPolyols INE255D01024 OfftakeAgreement OMCs 500KLPD Ethanol