Gravita commenced new Recycling Vertical at Ghana, West Africa

Gravita India Limited, a leading recycling company, having its manufacturing presence around the globe, has announced that Recyclers Ghana Limited, A step down subsidiary of the company situated in Ghana, West Africa has started commercial production and recycling of waste rubber with an annual capacity of around 6,000 MTPA.

The Company has incurred capital expenditure of Rs 3.80 Cr for setting up of the facility which has been funded through internal accruals.

This new recycling plant will help Recycler Ghana Limited to reduce its cost of production coupled with reduction in carbon footprints as pyrolysis oil generated during the rubber recycling process will be used by the company for in-house consumption as an alternative source of energy for recycling of Lead and Aluminum scrap.

This diversification is in line with Gravita group's vision and it wil l also open new business opportunity for the group in the field of waste Rubber recycling. Going forward, Gravita has plans to establish similar rubber recycling facilities at its other manufacturing locations also.

Shares of Gravita India Limited was last trading in BSE at Rs. 270.25 as compared to the previous close of Rs. 281.95. The total number of shares traded during the day was 8034 in over 173 trades.

The stock hit an intraday high of Rs. 279.90 and intraday low of 267.90. The net turnover during the day was Rs. 2165771.00.

Source : Equity Bulls

Keywords

GravitaIndia INE024L01027 RecyclersGhana CommercialProduction Ghana WestAfrica Recycling