Joint Venture29 Jan 2026, 05:01 pm
Modi Rubber's Joint Venture, Gujarat Guardian, Approves Expansion with Internal Funds
AI Summary
Modi Rubber Ltd. has received a letter from its joint venture company, Gujarat Guardian Limited (GGL), informing about the approval of expansion plans by GGL's Board of Directors. The expansion includes setting up a Second float line and Second Wet Coater at its existing facility in Gujarat. The capital cost for this expansion will be fully funded from GGL's internal accruals and borrowings. This information is considered material as it pertains to a significant development in the Company's joint venture.
Key Highlights
- Gujarat Guardian Limited has approved expansion plans to set up a Second float line and Second Wet Coater at its existing facility in Gujarat.
- The capital cost for the expansion will be fully funded from GGL's internal accruals and borrowings.
- The expansion is considered a material development in Modi Rubber Ltd.'s joint venture.