Grasim Industries Ltd and Lubrizol to set up 1st phase of 1 lakh MTPA CPVC resin facility

Grasim Industries Ltd had earlier announced about the execution of definitive agreement between the Company and Lubrizol Manufacturing India Private Limited ("Lubrizol") signed on 30th October 2020, for setting up a plant to manufacture and supply of 100,000 metric tonnes of Chlorinated Polyvinyl Chloride ("CPVC") resin in India. The first phase of the plant was planned to commence production in the year 2022. However, the unprecedented global COVID outbreak and its consequences, such as supply chain disruptions, prevented project work from starting.

Both the Company and Lubrizol now reaffirm that the construction of the first phase of the world's largest single-site state-of-the-art 100,000 metric tonne CPVC resin facility in Vilayat, Gujarat, will commence in later part of the year 2023. The project implementation plan is under finalisation, and we will share the further developments including commissioning timelines in due course.

Shares of Grasim Industries Limited was last trading in BSE at Rs. 1771.85 as compared to the previous close of Rs. 1779.20. The total number of shares traded during the day was 13874 in over 1337 trades.

The stock hit an intraday high of Rs. 1799.90 and intraday low of 1761.30. The net turnover during the day was Rs. 24741461.00.

Source : Equity Bulls

Keywords

GrasimIndustries INE047A01021 Lubrizol 1stPhase CPVCResin Vilayat Gujarat