Kanoria Chemicals & Industries performs Bhumi Puja for adding 300 TPD Formaldehyde Plant at Ankleshwar

Kanoria Chemicals & Industries Limited (KCI) has performed Bhumi Puja for setting up a new Formaldehyde plant at the existing manufacturing facility at GIDC, Ankleshwar Gujarat on 23rd February 2023.

The upcoming Formaldehyde plant will be with latest Metal Oxide based technology. This new capacity with superior technology will cater to growing demand in various sectors such as Engineering wood, Textile, Agrochemicals, Pharmaceuticals, etc. in the region as well as the exports markets.

Speaking on the occasion, Mr. Ranjeet Singh, Chief Executive - Chemical Business, said, "We are delighted that this additional Formaldehyde manufacturing facility with the latest technology will give us sustainable competitive advantage at the market place. This investment is aimed at creating values for our stakeholders and optimizing the resources in line with the company's 'Vision-2030'. He also expressed his sincere thanks to the policies of Govt. of Gujarat & officials which have helped KCI in these endeavours. He mentioned that the company will continue to invest in expanding capacities at all the locations considering sustainable development and inclusive growth in line with the company's Vision - 2030".

Mr. Sanjay Ojha, Chief of Manufacturing & Project, was also present on the occasion.

Shares of Kanoria Chemicals & Industries Limited was last trading in BSE at Rs. 120.95 as compared to the previous close of Rs. 124.95. The total number of shares traded during the day was 3581 in over 109 trades.

The stock hit an intraday high of Rs. 125.65 and intraday low of 120.65. The net turnover during the day was Rs. 440783.00.

Source : Equity Bulls

Keywords

KanoriaChemicalsandIndustries INE138C01024 BhumiPuja NewFormaldehydePlant GIDC Ankleshwar