Supreme Petrochem signs MoU with Government of Maharashtra to build styrenics complex

Supreme Petrochem Ltd has announced that the Company On November 07, 2006 has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra under the aegis of Industries Ministry for its Rs 1115 crore, proposed additional capital expenditure program to build a world-class styrenics complex by the year 2013 at its existing plant site at village Amdoshi and a minor Port at village Dherand, both in district Raigad. With the additional investment, the Company will be One - Stop - Shop for the entire chain of styrenic polymers and alloys of polymers. The Minor Port will address the logistic costs and permit movement of materials away from urban areas.

Total additional quantity produced by the proposed projects will be 4.9 lakh tons. The Company is also expanding it compounding facilities to add alloys of Polymers and other value added products. The Company has adequate land and support infrastructure at its existing plant location.

Source : Equity Bulls

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