Business Update26 Mar 2024, 11:40 pm
NOCIL Ltd. Approves Rs 250 Cr Capital Expenditure for Rubber Chemicals Capacity Enhancement
AI Summary
The Board of Directors of NOCIL Ltd. has approved a capital expenditure not exceeding Rs 250 Crores for capacity enhancement in its rubber chemicals business at Dahej. The existing capacity is 115,000 MTA and the utilization rate is around 65%. The proposed capacity addition is about 20%, which is expected to be completed within 24-30 months. The financing will be largely through internal accruals. The objective is to strengthen NOCIL's presence in both domestic and international markets.
Key Highlights
- Approval for Rs 250 Cr capital expenditure for capacity enhancement in rubber chemicals
- Existing capacity of 115,000 MTA with a utilization rate of around 65%
- Proposed capacity addition of about 20% within 24-30 months
- Largely internal accruals for financing
- Objective: Enhance NOCIL's presence in domestic and international markets