Last Updated : Sunday, December 15, 2019 17:19:24

NAVIN FLOURINE to invest 4.5 bln rupees in Dahej (Gujarat) facility

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update as submitted to the Indian Stock Exchanges, Mumbai headquartered commodity chemicals company Navin Flourine International Ltd said of th company board having given nod for planned capital expenditure programme outlay of 4.5 billion (~450 crore) rupees over next 3-4 years for Dahej Site.

The capital expenditure will be infused for site development and related infrastructure purpose, sprawling across 74 acres of land, which shall be done through a wholly owned subsidiary, the filing read.

In a filing as  submitted by the company, it further read that, Navin Fluorine International Limited is planning a capex program at Dahej (Gujarat) through a wholly owned subsidiary with an estimated aggregate capital outlay of over Rs. 450 crores over the next 3 – 4 years.

The Board of Directors, at their meeting held today has initially approved capital expenditure of approx. Rs. 90 crores for site development and related infrastructure on approx. 74 acres of land for greenfield projects at Dahej (Gujarat) through a wholly owned subsidiary, to be incorporated, details of which are annexed.

The said capital expenditure will be funded by the Company out of its internal accruals.

The development of the infrastructure will enable the Company to set up various future greenfield projects in fluorochemicals.

Each of these projects will be separately approved by the Board over a period of time and we shall update all in the due course.

The Company currently has manufacturing units at Surat (Gujarat) and Dewas (Madhya Pradesh).

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