Supreme Industries signs MoU with the Government of Maharashtra

Supreme Industries Ltd has announced that the Company on November 07, 2006 has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for setting up a Mega Project of a total investment outlay of Rs 300 crore at village Gadegaon, (15 kms distance from Jalgaon). This will be the largest single site plastic processing unit in the country, when fully implemented.

The Company has 17 manufacturing Units spread all over India and is in the process to put its 18 manufacturing unit at Gadegaon. The Government of Maharashtra has accorded this unit a Mega Industry Status. The plant will be spread around 104 acres of land, which on completion will have an installed capacity of 1.5 lakh tons per annum inclusive of a part of the existing plant located at Jalgaon. The products at Gadegaon will consist of plastics pipes systems from various raw materials like PE, PP PVC and reinforced glass fibre, crates, furniture and foam from PP, PE and PS required for construction, insulation and packaging. The first phase of the project at Gadegaon is expected to commence production in April, 2007, to be fully implemented in 3 years time.

Source : Equity Bulls

Keywords