Anupam Rasayan signs MoU with the Government of Gujarat with an investment of Rs. 670 Crores

Anupam Rasayan India Ltd. (NSE, BSE: ANURAS), one of India's leading custom synthesis & speciality chemical players, has signed a Memorandum of Understanding (MoU) with the Government of Gujarat for setting up new plants with an investment of Rs. 670 crores. These plants will be set up in Jhaghadia and Sachin in Gujarat. The company aims to commission the plants before 2025.

The large part of the plants will focus on manufacturing Fluorochemicals which will service the demands of existing and potential clients catering to Agrochemical, Polymers and Pharma sectors in Japan, Europe and America.

Speaking on the occasion, Anand Desai, Managing Director of Anupam Rasayan, said, "We are pleased to announce the MoU we have signed with the Gujarat Government for setting up three new plants in Surat and Bharuch. The investment of Rs. 670 crores is in line with the strategic move to expand our operations and strengthen our manufacturing capabilities.

The new units will bolster our growth prospects and allow us to diversify our product offering. We will introduce niche Fluoro derivatives on exclusive basis for the relevant customer."

Shares of Anupam Rasayan India Limited was last trading in BSE at Rs. 828.10 as compared to the previous close of Rs. 805.30. The total number of shares traded during the day was 47400 in over 2999 trades.

The stock hit an intraday high of Rs. 859.00 and intraday low of 799.70. The net turnover during the day was Rs. 39650017.00.

Source : Equity Bulls

Keywords

AnupamRasayanIndia INE930P01018 MoU GovernmentofGujarat NewPlants