SRF to invest Rs 345 cr on Gujarat plants

Chennai, Aug 8 (IANS) Chemical-based multi-business entity SRF Ltd on Monday said it has decided to invest production facilities in Gujarat at a total outlay of Rs 345 crore.

In a regulatory filing in BSE, the company said its Board has approved the setting up of third multipurpose plant at an estimated cost of Rs 180 crore and chloromethanes plant at an outlay of Rs 165 crore at its chemical complex in Dahej, Gujarat.

Currently the company has 40,000 tpa of chloromethanes plant and the plan is to double that to 80,000 tpa by 2017.

The project will be funded by mix of debt and internal accruals.

Meanwhile, the company closed the first quarter of the current fiscal with a net profit of Rs 119.49 crore as compared to Rs 105.53 crore for the quarter ended June 30, 2015.

SRF Ltd’s total income has increased from Rs 970.82 crore for the quarter ended June 30, 2015 to Rs 992.10 crore for the quarter ended June 30, 2016.

The Board also declared interim dividend of Rs 6 per share on the paid-up equity share capital of the company.

–IANS

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