Oceanic Foods Limited announces expansion of cold storage facility

The Board of Directors of Oceanic Foods Limited at its meeting held on 10th March, 2024 has considered & approved purchase of Cold Storage and considered & approved purchase of Commercial Truck.

The Company is using Cold Storage on lease/rent having the capacity of 5000 tons approx. But now the Company has planned to buy new cold storage having capacity of 1600 tons approx. The investment of up to Rs. 3,00,00,000 will be funded through mix of Internal Accrual and Borrowing from Bank.

The Company is having 2 Commercial truck with total Capacity of 32 tons approx., the company would now add 1 Commercial Truck having Capacity of 25 tons approx. The investment required is up to Rs. 45,00,000/- which will be funded through internal accrual.

Source : Equity Bulls

Keywords

OceanicFoods ExpansionPlan ColdStorage CommercialTruck