Rama Phosphates Ltd acquires land from MIDC for new project

Rama Phosphates Ltd has acquired land admeasuring 210377 Sq. Mts. (51.98 Acre) from Maharashtra Industrial Development Corporation (MIDC), Nardana Industrial Area, Dhule District which is bordered by Madhya Pradesh and Gujarat State and the Capital investment for the entire project would be in Phase manner.

Further, to this connection the Company has obtained consent to establish Phase I from Maharashtra Pollution Control Board to manufacture Single Super Phosphate (SSP) including Fortified Zincated & Boranated fertilizer with Capacity of 216000 MTPA & Sulphuric Acid Plant with Capacity of 90000 MTPA and the Capital Investment of the Phase I project is Rs. 48.954 crores.

The Company is at advanced stage of finalizing the Plant and Machinery and consequently Company is targeting to commence the production by the end of FY 2023.

Shares of RAMA PHOSPHATES LTD. was last trading in BSE at Rs. 351.65 as compared to the previous close of Rs. 347.55. The total number of shares traded during the day was 44404 in over 885 trades.

The stock hit an intraday high of Rs. 372.70 and intraday low of 340.00. The net turnover during the day was Rs. 16064889.00.

Source : Equity Bulls

Keywords

RAMAPHOSPHATES INE809A01024 LandAcquisition Expansion SSP